Opening bell: Nifty crosses 24,200 for the first time, Sensex nears 80,000

IT stocks, which rose 2% in the previous session, added 0.7% today. All the 13 major sectors logged gains.

Updated on: Jul 2, 2024, 09:55:03 IST

By HT News Desk

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Indian shares hit record highs today (July 2) led by information technology stocks which continued to rise on renewed hopes of an interest rate cut by the US Federal Reserve in September. The NSE Nifty 50 was up 0.21% at 24,186.5 points, while BSE Sensex added 0.22% to 79,653.21 points, as of 9:21 a.m. IST.

Stock market today: A bird flies past a screen displaying the Sensex results on the facade of the Bombay Stock Exchange (BSE) building in Mumbai. (Reuters)

IT stocks, which rose 2% in the previous session, added 0.7% today. All the 13 major sectors logged gains. The broader, more domestically focussed small- and mid-caps rose 0.4% and 0.2%, respectively.

Read more: Adani Group stocks Adani Ent, Adani Ports trade flat after Hindenburg response

The rupee depreciated 12 paise to 83.56 against the US dollar in early trade on Tuesday, weighed down by the strengthening of the American currency in the overseas markets and elevated crude oil prices.

Forex traders said oil importers and foreign portfolio investors (FPIs) bought US dollars amid rising US yields, and this dragged down the local unit.

At the interbank foreign exchange market, the rupee opened at 83.51 and lost further ground to trade at 83.56 against the greenback in initial deals, registering a fall of 12 paise from its previous closing level.

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HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

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