Stock market today: Sensex, Nifty 50 at record high; Bank Nifty crosses 52,900 for the first time

The 30-share BSE Sensex ended higher by 620.73 points or 0.80% at 78,674.25 level while the Nifty 50 closed at 23,868.80 level, up 147.50 points or 0.62%.

On the broader market front, the Nifty Midcap 100 closed 0.22% lower, while the Nifty SmallCap 100 ended up 0.25%. 

Amidst profit taking, Sensex and the Nifty 50, reached fresh highs during Wednesday’s choppy trading session. Nifty 50 touched record high, crossing earlier level of 23,754.2, while Sensex rose 134.64 points to hit a new all-time high of 78,188.16 in early trade. Nifty Bank touched record high during the session, and crossed earlier level of 52,746.5.

“The Merry Run continues as key indices mark a fresh new high. Technically, any small dip is getting bought into reflecting the strong uptrend. Continue with the approach of buying on dip going ahead,” said Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One.

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Despite starting flat, the benchmark Sensex and Nifty 50 indices turned positive. The equity markets in Asia ended higher on Wednesday. 

“Even though markets have reached all-time highs once again, it is time to be cautious. The FII buy levels have risen to a state that prompts for being careful. Also, the risk to reward on the long side at 23,800 does not warrant creating fresh longs and warrants booking profits,” said Rahul Ghose, CEO of Hedged.in

As per an AP news report, on Wednesday, equities gained ground in Europe and Asia subsequent to Nvidia’s recovery offsetting Wall Street’s decline.

The Paris CAC 40 was up 0.1% at 7,672.76, whereas Germany’s DAX jumped 0.8% to 18,482.00. The FTSE 100 in London increased by 0.5% to 8,291.45. Japan’s Nikkei gained 1.3% to 39,667.07 in Asian trade, propelled by robust demand for technology equities due to the hype around Nvidia and artificial intelligence. Advantest Corp. surged 7%, while Tokyo Electron gained 3.6%. 15% was added by Shin-Etsu Chemical Co.

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Sectoral indices today

Financial Services, Media, Oil & Gas, FMCG, PSU Banks, and Private Banks were among the sectoral indices at the NSE that were trading in the green, while Auto, Metal, Realty, and Consumer Durables were among those that traded in the red. IT and Pharma ended flat.

(more to come) 

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 26 Jun 2024, 11:46 AM IST