Last Updated: June 30, 2023, 09:40 IST
Sensex Today: Key benchmark indices opened at new record high in Friday’s trade. The S&P BSE Sensex touched an all-time high of 64,311, while Nifty50 touched a fresh high of 19,080 levels.
Broader indices, too, exhibited strength as Nifty Midcap 100, and Nifty Smallcap 100 indices gained up to 0.4 per cent. Volatility gauge, India VIX, meanwhile, jumped 2 per cent.
Sectorally, Nifty IT, Nifty PSU Bank, and Nifty Consumer Durables gained up to 1 per cent. On the other hand, Nifty Metal index inched lower in trade.
Among individual stocks, shares of Power Grid surged over 2 per cent after the board approved three investment proposals worth Rs 389 crore.
Besides, shares of Advanced Enzyme soared over 4 per cent after promoter entity Advanced Vital Enzymes sold 25.5 lakh equity shares or 2.28 per cent stake in the company.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The momentum in the market has picked up again and the undercurrent has the potential to take the benchmark indices to new highs. The global support to the bullishness is coming from the mother market US where the market is resilient supported by better-than-expected Q1 GDP growth of 2% and declining weekly jobless claims. This resilience of the US economy, which was not anticipated and discounted by the market, is the strongest pillar of support for the global markets now. In July the market trend will be influenced by auto sales numbers in June, Q1 results, progress of the monsoon and the Fed rate decision and commentary by month end. Market valuations are rich now, and therefore, investors should exercise some caution.”
Global Cues
Japan’s Nikkei share average fell on Friday, dragged down by heavyweight technology shares as investors paused buying ahead of corporate earnings season, but the index is set to post a weekly gain.
The Nikkei index fell 0.53 per cent to 33,058.99 by the midday break. But the index is set to gain 0.85 per cent, recovering from its first weekly loss after 10 straight weeks of gains.
The Dow and the S&P 500 advanced on Thursday as bank shares rallied after major lenders cleared the Federal Reserve’s annual stress test, while strong economic data stoked expectations of further interest rate hikes from the central bank.