On Thursday, the Indian stock rose to a new high on the major sensory index Sensex and again. Nifty continued to rise. The BSE Sensex rose 90 points to 40,560.41 points in early trade on Thursday on the BSE. Sensex rose sharply in shares of large companies like HDFC, ITC and Reliance Industries amid positive domestic trend. The 30-share Sensex of the Bombay Stock Exchange is up 90.63 points, or 0.22 percent, at 40,560.41 points in early trade.
At one time, the Sensex had jumped over 200 points to a record level of 40,676. Similarly, the 50-share Sensex Nifty of the National Stock Exchange was trading at 12,000.60 with a gain of 34.55 points, or 0.29 percent. However, Nifty opened at 12,021.10 at 9 am. The Nifty closed at 11,966.05 in the previous session.
Among the Sensex companies, IndusInd Bank, SBI, ITC, HDFC, Reliance Industries and Bajaj Finance gained 2.60 percent. Tata Steel, Vedanta, ONGC, Hero MotoCorp, Tata Motors, Yes Bank declined by up to 3.22 percent. The Sensex of the Bombay Stock Exchange closed at a record level of 40,469.78. They had a gain of 221.55 points on Wednesday.
The government on Wednesday announced a major relief to homeowners and real estate companies stuck installed projects. The Union Cabinet has set up a fund of Rs 25,000 crore for the completion of 1,600 residential projects lying stalled. The measures taken by the government for the real estate sector will have a positive impact on industries. The market has gained momentum because of the good quarterly results of companies and continued foreign investment.
The rupee fell 14 paise in early trade against the dollar
The rupee fell 14 paise to 71.11 against the US currency in early trade on Thursday after reports of a delay in the US-China trade agreement. Currency traders said other major Asian currencies fell after reports of a delay in trade agreements between the US and China. They also saw its effect on the domestic currency. However, the rupee received some support from continued investment in foreign capital, an early rise in the stock market and softening crude oil prices.