The S&P BSE Sensex opened strong at approximately 80,300 today, following a brief touch of this milestone in the previous session on July 3. This achievement marks the shortest span of around 138 sessions for the Sensex to reach this level, supported by positive global data and favorable monsoon progress in India. Among the top gainers were ICICI Bank, HCL Tech, and M&M, which opened up to 1.5% higher.
Conversely, HDFC Bank, HUL, and IndusInd Bank opened lower by up to 1.3%. Sectorally, Nifty IT gained 1%, with Coforge and Persistent Systems posting gains of over 2%, while Nifty Auto, Metals, and Realty sectors rose by over 0.5%. Notable stock movements included Kaya, which surged 10% following its collaboration with Marico for sales and marketing of personal care products, and ITD Cementation, which tumbled 6.7% due to a potential promoter stake sale.
In the global markets, Asian stocks hit 27-month highs as softer US data narrowed the odds of a September rate cut, with Japan’s Nikkei rising 0.4% and the broader Topix reaching all-time highs. S&P 500 futures and Nasdaq futures were steady after reaching another record overnight.
Meanwhile, oil prices fell in early trade after US employment and business activity data came in weaker than expected, with Brent crude futures down 30 cents to $87.04 a barrel and US West Texas Intermediate (WTI) crude futures falling 32 cents to $83.56. The Indian rupee fell 5 paisa to 83.54 against the US dollar in early trade, following a marginally weaker close in the last session amid dollar demand from local corporates and state-run banks.
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