Share Market

BSEMIDCAP and BSESMALLCAP were under tremendous pressure and lost significantly more, losing 4.24 per cent and 5.21 per cent respectively. The top sectoral gainer was BSEBANKEX which gained 3.01 per cent while the top loser was BSEFMCG which was down 6.08 per cent.

In the process, S&P BSE Sensex made an intraday high of 61,159.48 and Nifty50 touched 18,294.75 points. At 10.30 a.m., the 30-scrip sensitive index traded at 61,086.23 points, up 349.18 points or 0.57 per cent. The Sensex opened at 61,088.82 points from its previous close of 60,737.05 points. Besides, the NSE Nifty50 traded at 18,282.65 points, up by 120.90 points or 0.67 per cent.

The Sensex of the BSE opened at 60,619.91 points and touched a high of 60,621.72 points. The Sensex touched a low of 60,452.29 points. On Tuesday, the Sensex closed at 60,284.31 points. The Sensex is trading at 60,522.68 points, up by 249.67 points or 0.41 per cent. On the other hand, the broader 50-scrip Nifty at National Stock Exchange (NSE) opened at lower note at 18,097.85 points after closing at 17,991.95 points.

Accordingly, SEBI in a consultation paper expressed concerns over the proportionate allotment methodology in the case of NIIs. At present, the minimum bid size for HNI application is above Rs 200,000. "It is observed that a few large NIIs are able to crowd out smaller NIIs for allotment in an IPO," the consultation paper said.

Besides, higher crude oils and commodity prices provided additional support to the upward trajectory. Sector-wise, realty, auto and bank stocks gained the most whereas power and IT scrips lost the most. At around 10.30 a.m., S&P BSE Sensex traded at 60,142.17 points, higher by 93.70 points or 0.16 per cent from its previous close.

Both key indices -- S&P BSE Sensex and NSE Nifty50 -- ended in the red after making intra-day record highs. Both key indices had a gap-up opening, following which the Sensex crossed the 59,700 mark, while Nifty breached the 17,790 level. Sector-wise, metals, realty, power, oil and gas and healthcare stocks fell the most whereas telecom and bank stocks rose the most.

Around 12.40 p.m., its shares on the BSE were trading at Rs 14.17 per share, higher by 10.62 percent from its previous close. Earlier it touched an intraday high of Rs 14.85 per share. On Wednesday, RBI said that it has taken UCO Bank out from the PCA framework and lifted the restrictions.

Selling pressure was witnessed in banking stocks. Fall in the index-heavyweights HDFC Bank and Infosys weighed on the indices. Around 10.15 a.m., Sensex was trading at 58,185.40, lower by 64.86 points or 0.11 per cent from its previous close of 58,250.26 points.

The journey to the new high was achieved in record time. The BSE Sensex crossed the 57,000-mark and touched a record high of 57,625.26 points, while the Nifty50 on the National Stock Exchange hit the 17,000-level for the first time in its history. It hit an all-time high of 17,153.50 points during the day. It was the fastest 1,000-point gain for Nifty50.

Initially, both the key indices opened on a gap-up not and swiftly rose in the early part of the day. After a brief sideways move, they again resumed the upward march and ended almost at the intra-day high levels. Globally, Asian shares perked up after US Federal Reserve Chairman Jerome Powell struck a dovish tone at the central bank's long-awaited symposium.