Nifty, Sensex Continues to Trade in Range on Thursday

MAHARASHTRA, India – The major equity indices on both the National Stock Exchange and the BSE, Sensex and Nifty, has continued to trade within the range on Thursday session but going to a positive bias during the afternoon trade.

Both the frontline equity indices reached fresh record highs early in the morning trading session. The S&P BSE index, Sensex, tracked 41,163.79 points while the Nifty 50 was around the 12, 144.40 value.

At around 1:15 pm, the Sensex index is recorded valuing at about 41,106.79 points, which is up by around 0.21% or 86.18 points while the broader Nifty index features a 0.29% increase, going up by 34.60 points towards 12,135.30.

Other key BSE indices have also tracked gains early in the morning except for the S&P BSE Bharat 22 index, which slipped down by about 0.01% or 0.32 points towards 3,332.55.

The BSE Sensex Next 50 was the early top gainer with a 0.54% increase or 170.87 points towards 31,756.65 points. The BSE Sensex 50 also tracked a 0.13% increase or 16.55 points towards 12,685.54, while the BSE 100 gained about 0.18% or 22.49 points towards 12,205.95.

On the other hand, under the sectorial indices listed under the NSE, the top gainer for the trading session is the Nifty PSU Bank, with its recorded 3.5% increase led by the Oriental Bank of Commerce and the Union Bank of India.

For the individual stock market, the shares of the RIL (Reliance Industries) went towards fresh record highs, rising about 0.73% from its previous day close, earning towards Rs 1,582.25 on the BSE. During this new milestone, the oil-to-telecom firm bagged the status of the first-even firm listed in India to hit the m-cap (market capitalization) of Rs 10 lakh crore.

The market valuation for the Reliance Industries has reached Rs 10.02 lakh crore early in the morning, but the m-cap slipped under the Rs 10 lakh crore point only a few minutes later.

On the other hand, Indian rupee opens the trading session on a flat note, tracking a muted opening for the domestic equities on Thursday. The rupee opened the trading session at 71.33 but gained modestly, going towards 71.32. According to forex traders, the currency is trading on a narrow range against the US dollar as the market still awaits the clarity on the trade negotiations between the US and China.

Bullion prices were also conflicting on Thursday with gold tracking more optimistic gains, rising towards Rs 15 per ten grams whole silver goes down towards Rs 85 per kilogram.