The stock market opened at a record high today, with the S&P BSE 30 share index (Sensex) rising to around 80,300. This marks the shortest span of close to 138 sessions for the Sensex to cross the 80,000 mark, bolstered by supportive global data and favorable monsoon progress.
Several key stocks gained at the opening: ICICI Bank, HCL Tech, and M&M rose up to 1.5%, while HDFC Bank, HUL, and IndusInd Bank saw declines of up to 1.3%. Nifty IT gained 1% with Coforge and Persistent Systems posting gains of over 2%, and Nifty Auto, Metals, and Realty also gained over 0.5%. Kaya saw a 10% rise after announcing a collaboration with Marico, while ITD Cementation dropped 6.7% due to a potential promoter stake sale.
Global markets also performed well, with Asian stocks hitting 27-month highs. Japan’s Nikkei rose 0.4%, near its March peak, and the broader Topix reached all-time highs. S&P 500 futures and Nasdaq futures remained steady after setting new records overnight.
Oil prices fell in early trade following weaker-than-expected US employment and business activity data. Brent crude futures dropped by 30 cents to $87.04 a barrel, while US West Texas Intermediate (WTI) crude futures fell by 32 cents to $83.56.
In currency news, the Indian rupee fell by 5 paisa to 83.54 against the US dollar in early trade, continuing its marginal weakness from the previous session due to local dollar demand and Asian currency weaknesses.
