Sensex Today: Equity benchmarks staged a smart recovery in the last hour of trade, helping these indices hit fresh record highs, amid a sharp swing in banking and financial shares. That apart, liquidity-related cues from China aided sentiment.
China’s central bank governor said there was room to further cut banks’ reserve requirements. This is part of Beijing’s broader economic policy “adjustments” so the economy can hit its growth target of around 5 per cent for the year.
The S&P BSE Sensex, which stayed in the negative zone for the better part of the day, closed 409 points, or 0.55 per cent, higher at 74,086 levels. The Nifty50, too, surpassed the 22,450-mark to end at 22,474, up 118 points or 0.53 per cent.
The BSE benchmark hit a record high of 74,151, while the Nifty50 claimed 22,497 intraday.
Kotak Bank, Axis Bank, Sun Pharma, Bharti Airtel, ICICI Bank, IndusInd Bank, HCL Tech, Titan, TCS, L&T, and M&M were the top gainers today, surging up to 2.45 per cent.
In the broader markets, the BSE MidCap and the BSE SmallCap indices, however, stayed in the profit-booking zone with the indices down 0.65 per cent and 1.9 per cent , respectively.
Among sectors, the Nifty Bank, and Private Bank indices gained 0.8 per cent each, followed by 0.6 per cent rise in the Nifty Financial Services index. On the downside, the Nifty Media index fell 2.5 per cent, the Nifty Realty index 1.3 per cent, and the Nifty Metal 0.5 per cent.
Global cues
Asian markets mostly fell this morning following losses on Wall Street overnight. Nikkei, Kospi, ASX 200 fell 0.3-0.7 per cent. Hang Seng dipped below the flatline.
Overnight in the US, Apple shares dropped 3 per cent as iPhone sales fell 24 per cent in China in 2024, leading to a 1.65 per cent drop in the Nasdaq. The Dow Jones and S&P 500 fell 1 per cent each.
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