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HomeMarket NewsStock Market Highlights: Sensex rises 790 pts, Nifty tops 23,650; rupee hits fresh record low
Stock Market Highlights: Markets ended higher for the second consecutive session led by banks, pharma and telecom stocks, while the rupee weakened to a fresh record low amid continued pressure from global uncertainty and elevated crude oil prices.
Stock Market Highlights: Indian benchmark indices extended gains for a second straight session on Thursday, led by a sharp rebound in banking stocks, strong buying in pharma counters and heavyweight support from Bharti Airtel.
The Sensex surged 790 points to close at 75,399, while the Nifty settled 277 points higher at 23,690, reclaiming the 23,650 mark amid broad-based gains across sectors.
Banking shares rallied on reports that the government may consider reducing taxes on foreign bond investments, while Cipla jumped over 8% after a strong outlook on its US business.
Bharti Airtel also gained more than 5% despite reporting weak quarterly earnings. However, IT stocks remained under pressure for a fourth straight session, with Kaynes Technology tumbling 19% after missing guidance and facing a downgrade from JPMorgan. Meanwhile, the rupee weakened further, hitting a fresh intraday record low of 95.96 against the US dollar before ending at an all-time closing low of 95.76/$.
