E-Paper
Stock market opens at record high: Sensex up 300 points, Nifty above 24,300
With this the Sensex has taken shortest span of close to 138 sessions to cross the 80,000- mark.
The S&P BSE 30 share index opened well at around 80,300 today (July 4). The Sensex also had briefly crossed this mark in the last session on July 3. With this the Sensex has taken shortest span of close to 138 sessions to cross the mark backed by supportive global data and monsoon progress in the country.
Read more: UPI payments will now be available in UAE: All you need to know
Which stocks are gaining and losing today?
From Sensex, ICICI Bank, HCL Tech, and M&M opened up to 1.5% higher while HDFC Bank, HUL and IndusInd Bank opened lower by up to 1.3%. Nifty IT gained 1% today with Coforge and Persistent Systems posting gains of over 2%.Nifty Auto, Metals and Realty gained over 0.5%. Kaya gained 10% after announcing its collaboration with Marico to handle sales and marketing of Kaya’s personal care products. Shares of ITD Cementation tumbled 6.7% due to a likely promoter stake sale.
What about global markets?
Asia stocks hit 27-month highs as softer US data narrowed the odds on a September rate cut. Japan's Nikkei rose 0.4% and was near its March peak, while the broader Topix clinched all-time highs. S&P 500 futures and Nasdaq futures were steady after reaching another record overnight.
What about oil prices today?
Read more: How could stock market react to Budget? Sensex, Nifty may gain 20% in 2024
Oil prices fell in early trade after US employment and business activity data came in weaker than expected. Brent crude futures was down 30 cents, or 0.34%, at $87.04 a barrel, while US West Texas Intermediate (WTI) crude futures fell 32 cents, or 0.38%, to $83.56 by 0030 GMT.
A look at Rupee's performance today
Rupee falls 5 paisa to 83.54 against US dollar in early trade. In the last session, the Indian rupee closed marginally weaker amid dollar demand from local corporates and state-run banks owing to weakness in Asian currencies.
