Stock market today: Nifty 50, Sensex hit record high, ends above 74k for 2nd straight day; midcaps, smallcaps outperform
US Fed signals rate cuts in 2024; Powell says progress towards 2% inflation target ‘not assured’ Domestic market benchmarks traded choppy during the session but the Nifty 50 and the Sensex hit their fresh record highs of 22,525.65 and 74,245.17 in intraday trade. Nifty 50 finally closed 20 points, or 0.09 per cent, up at 22,493.55 while the Sensex settled at 74,119.39, up 33 points, or 0.05 per cent. Both indices settled at their fresh closing highs.
Shares of ITC, Tata Steel and TCS were among the top contributors to the gains in the benchmark indices. On the flip side, those of Reliance Industries, Mahindra and Mahindra and ICICI Bank were among the top drags. Mid and smallcap indices outperformed the benchmarks.
The BSE Midcap index rose 0.39 per cent while the BSE Smallcap index clocked a gain of 0.70 per cent. Nearly 170 stocks, including SBI, Bharti Airtel, Bajaj Auto, Bank of Baroda, Tata Steel, Tata Power, Tata Consumer Products, TVS Motor Company, Sun Pharma and Power Grid, hit their fresh 52-week highs in intraday trade on BSE. As many as 30 stocks ended with gains in the Nifty 50 index while the remaining 20 stocks ended lower.
Shares of Tata Consumer Products (up 3.68 per cent), Tata Steel (up 3.59 per cent) and Bajaj Auto (up 3.13 per cent) closed as the top gainers in the index. Shares of Mahindra and Mahindra (down 3.99 per cent), BPCL (down 2.40 per cent) and Reliance Industries (down 1.63 per cent) closed as the top losers in the index. (More to come) Milestone Alert!
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