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Record Stock Market Valuation: USD 4 Trillion Milestone
Stock Market Live Update: In a historic day for Indian equities, the combined market valuation of all listed companies on the Bombay Stock Exchange (BSE) reached the unprecedented milestone of USD 4 trillion on Wednesday. This remarkable achievement signifies the strength and resilience of the Indian stock market.
Sensex Soars 727 Points: Foreign Fund Inflows Drive Rally
On the same day, the benchmark Sensex witnessed an impressive surge of 727 points, closing above the 20,000 mark. This bullish trend was primarily attributed to foreign fund inflows and robust buying in the market heavyweight HDFC Bank. The 30-share BSE Sensex recorded a substantial gain of 727.71 points or 1.10%, settling at 66,901.91. The Nifty, reflecting the broader market sentiment, climbed 206.90 points or 1.04%, reclaiming the 20,000-mark to close at 20,096.60.
Market Performance and Major Gainers
The market rally showcased notable performances among Sensex firms. Major gainers included Axis Bank, Mahindra & Mahindra, Wipro, Tata Motors, HDFC Bank, Tech Mahindra, ICICI Bank, JSW Steel, Tata Consultancy Services, Infosys, HCL Technologies, and Bharti Airtel. However, Nestle, Titan, Bajaj Finserv, and UltraTech Cement experienced a lag in performance.
Global Markets and Foreign Institutional Investors (FIIs)
While Asian markets in Seoul, Tokyo, Shanghai, and Hong Kong settled lower, European markets traded mostly with gains. In the US markets, a marginal upturn was observed on Tuesday. Foreign Institutional Investors (FIIs) played a significant role, buying equities worth Rs 783.82 crore on Tuesday, indicating foreign confidence in the Indian stock market.
Rupee Gains Ground: Settles at 83.32 Against US Dollar
In tandem with the positive momentum in equity markets, the Indian rupee sustained its upward trajectory for the second consecutive session. The rupee settled 2 paise higher at 83.32 against the US dollar on Wednesday. Robust buying in equity markets and foreign fund inflows contributed to the rupee’s gains.
Factors Influencing Rupee Movement
The weakening of the US dollar against major rivals supported the domestic unit. However, the upward movement in crude oil prices, ahead of a crucial meeting of oil-producing countries, capped the gain in the rupee. The interbank foreign exchange saw the rupee opening stronger at 83.30 against the dollar, reaching a peak of 83.28 and a low of 83.33 intra-day before settling at 83.32.
Analyst Insights and Market Expectations
Anuj Choudhary, Research Analyst at Sharekhan by BNP Paribas, highlighted that the Indian rupee appreciated on the back of positive domestic markets and consecutive sessions of foreign institutional investors’ inflows. He noted a slight recovery in the US dollar index and crude oil prices, emphasizing the mixed economic data from the US.
Choudhary expressed expectations of the rupee trading with a slight negative bias due to dollar demand from importers towards the end of the month. He also indicated that traders might take cues from GDP data from the US and India towards the month-end.
Stock Market Live Updates: Nifty Around 20,050, Sensex Below 66,750
As of the latest live market updates, the Nifty is hovering around 20,050, with the Sensex below 66,750. Metal and realty stocks are experiencing a fall, reflecting the dynamic nature of the stock market.
Early Trade Performance
Stock Market Live: During early trade on Thursday, Adani Enterprises, Tata Steel, NTPC, IndusInd Bank, and Asian Paints were identified as the top losers on the NSE. On the flip side, early gainers included Hero MotoCorp, UltraTech Cement, BPCL, Dr Reddy’s Labs, and Eicher Motors.
Tata Tech IPO Debut: Doubles Investors’ Wealth
Shifting focus to recent market developments, Tata Technologies made a robust market debut on November 30. Opening at a 140% premium to the IPO price, the stock initiated trading at Rs 1,200 on the NSE and Rs 1,199.95 on the BSE. This successful IPO debut contributed to doubling investors’ wealth, showcasing the strong demand for Tata Tech shares.
Conclusion: Dynamic Trends in Stock Market Live Updates
In conclusion, the recent surge in the Sensex, the record-breaking market valuation, and the positive trajectory of the Indian rupee against the US dollar indicate favorable market conditions. The Stock Market live updates reflect the dynamic nature of the stock market, influenced by various factors such as foreign fund inflows, global market trends, and individual stock performances. Investors and traders are advised to stay informed and vigilant to capitalize on emerging opportunities and navigate the ever-changing landscape of the stock market.
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