Sensex, Nifty hits fresh record high in early trade

The headline equity indices traded with limited gains in early trade. The Nifty traded above 22,700 level. Realty, IT and consumer durables shares were in demand while FMCG, oil & gas and PSU bank shares declined.

At 09:30 IST, the barometer index, the S&P BSE Sensex, was up 177.93 points or 0.23% to 74,908.26. The Nifty 50 index added 46.05 points or 0.20% to 22,712.35.

The Sensex and Nifty clocked an all-time high of 75,124.28 and 22,765.30, respectively in early trade. Further, the Nifty Bank index also registered a fresh record high today at 48,812.15.

In the broader market, The S&P BSE Mid-Cap index rose 0.08% and the S&P BSE Small-Cap index added 0.32%.

The market breadth was positive. On the BSE, 1,690 shares rose and 1,133 shares fell. A total of 101 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,659.27 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 3,370.42 crore in the Indian equity market on 5 April, provisional data showed.

Stocks in Spotlight:

Tata Motors added 1.08% after Jaguar Land Rover (UK), a wholly owned subsidiary of the company reported wholesale volumes of 110,190 units in the fourth quarter (excluding the Chery Jaguar LandRover China JV), up16% compared to the same quarter a year ago and up 9% compared to the quarter ended 31 December 2023.

Dixon Technologies (India) rose 1.55% after the company entered into a share purchase agreement with Ismartu In Pte. (Ismartu Singapore), Transsion Technology Limited, 5A advisors LLP and Ismartu India (Ismartu) for proposed acquisition of majority stake constituting 50.10% and further acquisitions in tranches in Ismartu. Ismartu is engaged in electronics & mobile devices manufacturing.

Deep Industries gained 0.83%. The company said that it has completed the incorporation process of its wholly owned subsidiary, SAAR International FZ-LLC (SAAR) in Ras Al Khaimah Economic Zone, UAE on 29 March 2024 and received certificate of incorporation on 8 April 2024.

Numbers to Track:

MCX Gold futures for 5 April 2024 settlement rose 0.23% to Rs 71,078.

The US Dollar index (DXY), which tracks the greenback`s value against a basket of currencies, was added 0.04% to 104.18.

The United States 10-year bond yield shed 0.25% to 4.414.

In the commodities market, Brent crude for May 2024 settlement rose 24 cents or 0.27% to $ 90.62 a barrel.

Global Markets:

Asian stocks traded mixed on Tuesday as investors awaited consumer confidence data from Japan, with focus also on U.S. inflation numbers to assess the Federal Reserve�s rate cut path.

US stocks remained largely range bound on Monday, with investors awaiting the consumer price index report out on Wednesday.

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