Share Market Today: NIFTY Above 23,800 and SENSEX Trading At 344 Points Higher; Rupee Weakens New Record Low

Market Update: Nifty 50 above 23800 mark and Sensex Trading at 0.41% surge; NIFTY Bank and NIFTY IT Go Green Too; Tata Motors, Dr Reddys Lab, IndusInd Bank, M&M, Wipro, Infosys gains

Today's share market sees modest gain as both indices go green with a significant surge in stock prices from the previous session. The NIFTY 50 index is trading at 23,849.20 which is nearly a 0.5% surge from the previous day's closing of 23,750 whereas, with a 335.21 gain, the Sensex is trading at 78799.16 which is also approximately a 0.5% gain from the last closing session of 78472 in the Indian Stock Market. today 

The NIFTY Bank has also bounced back slightly with a 0.27% surge with IndusInd Bank, IDFC Bank, ICICI Bank, and Axis Bank showing moderate gains. 

Also, the Indian rupee has dropped to a record lowest, trading at 85.24 against the US dollar due to the high US Treasury yields and weak Asian currency. This may lead to Foreign investors pulling out money from the Indian market, cost imports going high, and export companies getting benefits with a weaker rupee as Indian goods have now become cheaper. Overall it may lead to uncertainty in the market.

Let's check out the share market live updates in detail to have better clarity on the heavyweight stocks that have added to the significant gains to the indices.

IndusInd Bank

IndusInd Bank is the only stock that is currently leading in the banking sector with a gain of more than 2.85% from its previous closing of 931.95. This stock has been leading the most in the banking sector on the stock exchange and has a major contribution in pulling the indices up. The stock has been trading all day and has reached the highest day value of Rs 971.10 and is currently trading at an LTP of 957.80 and is expected to touch the day-high mark once again before the market closes. The share of this private bank gained attention this Friday due to the plans to sell loans worth Rs 1573 crore due to the quality of its micro-finance loans.

Mahindra and Mahindra Ltd

Mahindra and Mahindra Ltd. in the automobile industry have also generated over 2.87% profit in their stock prices from its previous closing of Rs 2,975 per stock price. The stock has been gaining significant profit for the second consecutive day and has been trading the whole day and has gone to a day high of Rs 3,061.60 and is currently trading at an LTP of Rs 3060.00 per stock price and will again make the day’s high mark.

Dr Reddys Lab

Dr Reddys Lab in the  Pharmaceuticals & Drugs industry has again been into the books of profit and also generated over 3.09% profit and is leading the stock market today from its previous closing of Rs 1,355.15 per stock price. The stock has been trading the whole day and has gone to a day high of Rs 1,398.25 and is currently trading at an LTP of Rs 1396.90 per stock price. This stock has been performing well since few weeks and it is expected to surge more till the end of this year. 

Tata Motors

The automotive giant Tata Motors with a gain of approx 2% from its previous closing of 740.80. This stock has been the second leading the most in the automobile sector on the stock exchange and has a major contribution in pulling the indices up. The stock has been trading all day and has reached the highest day value of Rs 766.85 and is currently trading at an LTP of 755.50. 

Stocks Contribution to Pulling the Indices Up

Other stocks that have seen a surge of more than 1% are Eicher Motors, Trent, Bajaj Finserv, Wipro, Sun Pharma, and Cipla. Where as the most active stock as of today are One Mobikwik, Greaves Cotton, Amber Enterprise, and Tata Motors.