Stock market at fresh lifetime highs: Which stocks are rising the most today? - Hindustan Times
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Stock market at fresh lifetime highs: Which stocks are rising the most today?

Jun 10, 2024 10:17 AM IST

Reliance Industries, Axis Bank, Power Grid, SBI, and Kotak Mahindra Bank are the leading contributors to Sensex's gains in early trade today.

Indian benchmark equity indices Sensex and Nifty50 opened at fresh record highs today (June 10). The surge was led by index heavyweight Reliance Industries and banking stocks as the BSE Sensex was trading higher at 77,014 while Nifty50 was trading at 23,400. This is the first time that Sensex hit the 77,000 mark.

On Nifty50, Cipla, UltraTech Cement, and Power Grid were the top gainers as they gained between 2-4 per cent.(AP)
On Nifty50, Cipla, UltraTech Cement, and Power Grid were the top gainers as they gained between 2-4 per cent.(AP)

This comes as Narendra Modi was sworn in as prime minister for a third term, heading a 72-member Union Council of Ministers in a BJP-led National Democratic Alliance (NDA) government.

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Which stocks led Sensex gains?

Read more: Sensex, Nifty open at record high after PM Modi takes oath

Reliance Industries, Axis Bank, Power Grid, SBI, and Kotak Mahindra Bank are the leading contributors to Sensex's gains in early trade today. Infosys, TCS, HCL Tech, and Tech Mahindra were major laggards on the index. Except Nifty IT which fell 0.9%, all sectoral indices opened higher. 

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On Nifty50, Cipla, UltraTech Cement, and Power Grid were the top gainers as they gained between 2-4 per cent.

Read more: Kronox Lab Sciences IPO lists at 21% premium over issue price

Among stocks, IDBI Bank witnessed a surge of 5.5% as it received an income tax order which determined a refund of 2,702 crore for the assessment year 2016-17, it was reported. Mphasis declined 4% following reports of Blackstone offloading a 15.6% stake in the IT firm.

Shares of Suzlon Energy fell over 5 per cent s Marc Desaedeleer, an Independent Director at Suzlon, resigned citing instances that occurred where cooperative governance standards applied by the company did not meet his expectations.

What about FIIs?

Foreign Institutional Investors (FIIs) bought equities worth 4,391.02 crore on Friday, as per exchange data.

What about global markets and oil prices?

In Asian markets, Tokyo was in the green while Seoul traded lower. US markets ended lower on Friday and global oil benchmark Brent crude climbed 0.31 per cent to USD 79.87 a barrel.

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