shot-button
Ganesh Chaturthi Ganesh Chaturthi
Home > Business News > Business News > Article > Sensex and Nifty reach new lifetime highs in early trade

Sensex and Nifty reach new lifetime highs in early trade

Updated on: 02 July,2024 10:00 AM IST  |  Mumbai
mid-day online correspondent |

In early trading, the 30-share BSE Sensex increased 379.68 points to a record high of 79,855.87. The Nifty reached a record high of 24,236.35, up 94.4 points

Sensex and Nifty reach new lifetime highs in early trade

Representative image

Early trading on Tuesday saw the equity benchmark indexes Sensex and Nifty reach new all-time highs, propelled by a surge in global markets and robust purchasing of IT stocks.


In early trading, the 30-share BSE Sensex increased 379.68 points to a record high of 79,855.87. The Nifty reached a record high of 24,236.35, up 94.4 points, reported PTI. 


According to the report, among the Sensex stocks, the top gainers were Power Grid, HDFC Bank, Bharti Airtel, Infosys, HCL Technologies, and Tata Consultancy Services. ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, and Tata Motors all experienced decreases.


Profit booking surfaced despite the positive start, which led the indices to reduce early gains and trade in negative territory. The larger NSE Nifty dropped 25.65 points, or 0.11 per cent, to 24,116.30 points, while the BSE Sensex slid 77.93 points, or 0.10 per cent, to 79,398.26 points.

The BSE benchmark closed at an all-time high of 79,476.19 on Monday, up 443.46 points, or 0.56 per cent. The Nifty increased by 131.35 points, or 0.55 per cent, to end at 24,141.95, a new all-time high, the report added. 

Per the news report, Seoul saw a decrease on Tuesday, but Tokyo, Shanghai, and Hong Kong saw positive activity. On Monday, US markets concluded the day higher.

According to sources on Monday, India's gross GST collection rose by 8 per cent to Rs 1.74 lakh crore in June. The benchmark for world oil, Brent crude, increased 0.23 per cent to USD 86.80 a barrel.

According to market data, foreign institutional investors (FIIs) sold stocks on Monday for a total of Rs 426.03 crore, the report added. 

Rupee falls 12 paise to 83.56 against US Dollar in early trade

Meanwhile, in early trade on Tuesday, the rupee fell 12 paise to 83.56 against the US dollar, weighed down by the dollar's strength in global markets and rising crude oil prices.

Forex traders noticed that oil importers and foreign portfolio investors (FPIs) purchased US dollars as US yields rose, putting more pressure on the currency. The rupee opened at 83.51 versus the dollar on the interbank foreign exchange market before falling to 83.56, a 12-paise drop from its previous closing level.

On Monday, the rupee had already depreciated by 10 paise to settle at 83.44 against the US dollar. Initially, the rupee saw dollar inflows and rose to 83.37, but was then sold off to 83.44 levels as oil companies and FPIs bought dollars in response to rising US yields, explained Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP, the report added. 

Bhansali predicted that the rupee would reach 83.55 before settling around 83.45, with a day trading range of 83.40 to 83.55.

Meanwhile, the dollar index, which measures the greenback's strength against a basket of six currencies, was trading slightly higher at 105.91, up 0.02 per cent, following a rise in US government yields as investors weighed the potential consequences of a second Trump administration.

Brent crude futures, the global oil benchmark, rose by 0.22 per cent to USD 86.80 per barrel.

With PTI inputs

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK