The index took just 23 sessions to climb 1,000 points.Among sectoral indices, buying was noticed in banks, FMCG, metals and pharma.
"The domestic stock market surged on Thursday for the fourth consecutive day, buoyed by robust buying in leading blue-chip stocks, propelling the Nifty index above the significant 24,000 mark.
It ended at 83.46 against the US dollar, marking a 0.1% gain from its previous close of 83.57.
"USDINR after yesterday's rise, fell to 83.44 levels as JPMorgan's emerging market induction is awaited by market participants on Friday.
The market was in a range of 83.44 to 83.5250 for the entire day as buying continued at lower levels and selling at higher levels.
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
The domestic equity market on Thursday rallied for the fourth consecutive day amid buying in heavyweight bluechips, which took Nifty past the 24,000 milestone. Sensex also touched a new record high and crossed the 79,000 level following a 400-point surge.The 30-stock S&P BSE Sensex scaled a new peak of 79,243.03 intra-day, and ended the day at 79,243.18, up 568.93 points or 0.72%, while the broader Nifty crossed the 24K mark for the first time and settled at 24,044.50, higher by 175.70 points or 0.74%.For Nifty50, the latest 1,000-point gain from 23,000 to 24,000 has been the 2nd fastest ever. The index took just 23 sessions to climb 1,000 points.Among sectoral indices, buying was noticed in banks, FMCG, metals and pharma. The Nifty Bank, which was the top gainer on Wednesday, reversed course today, closing at 52,811.30, down 59.20 points or 0.11%.Nifty's breadth was slightly tilted in the favour of the bulls, with 35 stocks ending in the green, while 15 settled with cuts. The top gainers at the time of closing were UltraTech Cement NTPC , and Wipro , while Larsen & Toubro (L&T), Shriram Finance Eicher Motors , Divi's Laboratories, and HDFC Bank were top losers."The domestic stock market surged on Thursday for the fourth consecutive day, buoyed by robust buying in leading blue-chip stocks, propelling the Nifty index above the significant 24,000 mark. Simultaneously, the Sensex reached a new all-time high, breaching the 79,000 level with a remarkable 400-point jump,"said Vishnu Kant Upadhyay, Assistant Vice President - Research and Advisory at Master Capital Services.He attributed this to increasing buying in index heavyweights, political stability, and the return of FIIs to the domestic market as key factors to market ascent.Major Asian markets closed mixed. Japan's Nikkei 225 fell 0.82%, while Hong Kong's Hang Seng index closed with over 2% declines. Meanwhile, China's Shanghai Composite was down nearly 1%. Singapore's FTSE Straits Times Index was among the gainers with a 0.35% uptick.The Indian rupee closed stronger on Thursday, supported by inflows into domestic sovereign bonds ahead of their inclusion in JPMorgan's emerging market debt index. It ended at 83.46 against the US dollar, marking a 0.1% gain from its previous close of 83.57. Despite reaching an intraday high of 83.44, gains were limited by dollar demand from local oil companies, as reported by Reuters citing traders."USDINR after yesterday's rise, fell to 83.44 levels as JPMorgan's emerging market induction is awaited by market participants on Friday. The market was in a range of 83.44 to 83.5250 for the entire day as buying continued at lower levels and selling at higher levels. The selling was on account of inflows expected for JPMorgan funds and rebalancing funds," Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP said.Crude oil prices were trading higher on Thursday, with US WTI oil contracts trading at $81.17, up $0.27 or 0.33%, while Brent oil futures were hovering near $85.56, higher by $0.31 or 0.36%.On the MCX, the July Crude Oil futures were trading at Rs 6,785 per BBL, down by Rs 20 or 0.29%.
