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Stock Market Highlights: After touching record highs, the Indian equity indices are trading near flatline. Earlier today, continuing its winning streak, Sensex and Nifty opened in green territory on cues from global markets. BSE Sensex opened at 381.78 points, or 0.51 per cent at 75,124.30 while Nifty inched 98.80 points, or 0.44 per cent higher at 22,765.10. Sensex breached the 75,000 mark for the first time in history.
From the Sensex basket, TCS, Infosys, Tech Mahindra, HCL Technologies, Tata Motors, Wipro, ICICI Bank and Nestle were the major gainers. Kotak Mahindra Bank, Reliance Industries, JSW Steel and Larsen & Toubro were among the laggards.
“In the current market landscape, the Nifty index stands at uncharted heights, propelled by several positive catalysts including robust Q4 corporate earnings expectations in India, strong US economic data, and easing oil prices,” said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
“The new records set by the market yesterday confirm the bullish market undertone. A healthy and desirable trend in the market movement yesterday was the outperformance of the largecaps. This trend is likely to continue,” said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
International crude oil benchmarks earlier witnessed a minor dip in prices as tension in West Asia eased due to Israel’s withdrawal of troops in Gaza. However, the prices inched up as the day progressed due to diminishing hopes. Brent crude oil benchmark is trading 0.28 per cent higher at $90.63 per barrel while WTI inched 0.22 per cent up at $86.61 per barrel.