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Top gainers in the BSE pack included Bajaj Auto, Bajaj Finance, Bajaj Finserv, HCL Tech, Reliance Industries and Asian Paints with their shares rising as much as 1.43 per cent. On the NSE platfrom, all the sub-indices were trading in green with Nifty IT outperforming the index by jumping as much as 1 per cent.
Rupee Gains 7 Paise to Trade Near 5-month High of 72.98 vs US Dollar | Advancing its gains for the third straight session, the rupee scaled a near five-month high of 72.98 against the US dollar on Thursday in line with the buoyant equity market and sustained foreign fund inflows. At the interbank forex market, the rupee was 7 paise higher to trade at a level not seen since September 1, 2020. On Wednesday, the rupee had settled at 73.05 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.18 per cent to 90.31.
Market update as of 11:02am:
Sensex is up 332.61 points or 0.67% at 50124.73, and the Nifty added 96.40 points or 0.66% at 14741.10.
Market update as of 11:02am:
Sensex is up 332.61 points or 0.67% at 50124.73, and the Nifty added 96.40 points or 0.66% at 14741.10.
TCS and HDFC twins were the laggards. In the previous session, the Sensex had advanced by 393.83 or 0.80 per cent to close at its fresh record of 49,792.12, and the Nifty had jumped 123.55 points or 0.85 per cent to settle at a lifetime high of 14,644.70.
BSE Sensex as of 10:28 am:
Indian rupee opened higher at 72.96 per dollar on Thursday against Wednesday's close of 73.02, amid buying seen in the domestic equity market. On January 20, rupee ended at day's high at 73.02 per dollar against previous close of 73.17.
Share price of Reliance Industries (RIL) rose nearly 2 percent on January 21 after the company got the approval of the Securities and Exchange Board (SEBI) for its deal with Kishore Biyani-led Future Group. In August 2020, Biyani had entered into a Rs 24,713 crore agreement with Reliance Retail, an arm of the Mukesh Ambani-led Reliance Industries Limited (RIL), to sell its retail, wholesale, logistics and warehouse businesses to Reliance Retail Retail Ventures (RRVL). The market regulator gave the nod to the deal on January 20.
Indian indices opened at fresh record highs on Thursday with BSE Sensex crosses 50,000 level for the first time. At 09:17 IST, the Sensex was up 223.17 points or 0.45% at 50,015.29, and the Nifty was up 63 points or 0.43% at 14,707.70. About 1034 shares have advanced, 267 shares declined, and 68 shares are unchanged.
Reliance Share Rises by 1.75% | Reliance shares rose 1.7% after Indian stock exchanges on Wednesday gave the go-ahead for Future Group's $3.4 billion deal to sell its retail assets, taking it a step closer towards closing a deal that has soured ties with its business partner Amazon.com Inc.
Nifty Bank Hits Record High | Nifty Bank hits record high supported by the Bandhan Bank, RBL Bank, IndusInd Bank.
Sensex Scales 50,000; Reliance Gains on Nod for Future Deal | Indian shares rose to a record high on Thursday, with the benchmark index scaling the 50,000 level for the first time, boosted by heavyweight Reliance Industries after the country's stock exchanges approved its deal with Future Group. The blue-chip NSE Nifty 50 index rose 0.44% to 14,708 and the benchmark S&P BSE Sensex was up 0.45% at 50,014.55 by 0346 GMT. Investor sentiment was also boosted with global equity benchmarks hitting record highs on Wednesday on expectations of further U.S. stimulus from newly inaugurated U.S. President Joe Biden's administration.
CCI Approves Axis-Max Life Deal | Fair trade regulator Competition Commission of India (CCI) on Wednesday said it has approved the stake acquisition in Max Life Insurance Company by Axis Bank, Axis Capital and Axis Securities. As per the combination notice filed with CCI, the shareholding of Axis Bank in Max Life will increase to approximately 9.9 per cent. Currently, the bank holds about 1 per cent stake in Max Life and is also the biggest distributor of the insurer's products through banking channel. Additionally, Axis Capital Ltd and Axis Securities will acquire 2 percent and 1 percent, respectively, shareholding in Max Life.
The initial public offering of Indigo Paints, the fifth-largest decorative paints company in India, has been subscribed 1.9 times on its first day of the bidding on January 20. The public issue has received bids for 1.04 crore equity shares against offer size of 55.18 lakh shares (excluding anchor book), the subscription data available on the exchanges showed.
Bajaj Finance has sailed through the headwinds and emerged stronger with a leaner operating model and robust growth guidance. Growth guidance of ~ 25% for FY22E and opportunity to apply for banking licence have resulted in renewed interest of investors in the stock.
Stocks in Focus | Bajaj Finserv, Tata Motors, Bajaj Finance, UPL and IndusInd Bank were among major gainers on the Nifty. Nifty Auto and Energy indices added 1 percent.
Sensex Hits 50,000 for the First Time | The wait for 50,000 on the Sensex and 15,000 on the Nifty had got extended last week when bears took control of the market and pushed benchmark indices towards their crucial support levels. But, Sensex hits 50,000 for the first time today.
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