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The frontline indices traded with significant gains in mid-afternoon trade. The Nifty hovered above the 19,300 mark. PSU Bank shares witnessed buying demand for fourth trading session.
At 14:25 IST, the barometer index, the S&P BSE Sensex, was up 498.67 points or 0.77% to 65,217.23. The Nifty 50 index added 133.95 points or 0.70% to 19,323.
The Nifty and the Sensex hit all-time highs in intraday today at 19,336.10 and 65,247.74, respectively. Further, the Nifty Bank index also registered its fresh record high at 45,353.20.
In the broader market, the S&P BSE Mid-Cap index rose 0.26% while the S&P BSE Small-Cap index gained 0.64%.
The market breadth was positive. On the BSE, 1,967 shares rose and 1,670 shares fell. A total of 166 shares were unchanged.
Buzzing Index:
The Nifty PSU Bank index rose 2.74% to 4,222.90. The index rallied 5.97% in four trading sessions.
Canara Bank (up 4.36%), Bank of Maharashtra (up 4.33%), Punjab National Bank (up 3.48%), Bank of Baroda (up 3.47%) and Bank of India (up 3.33%) were the top gainers.
Among the other gainers were Union Bank of India (up 3.04%), Indian Bank (up 2.48%), Indian Overseas Bank (up 2.46%), UCO Bank (up 2.37%) and Central Bank of India (up 2.07%).
Number to track:
The yield on India's 10-year benchmark federal paper rose 0.11% to 7.118 from previous close of 7.110.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 81.94, compared with its close of 82.10 during the previous trading session.
MCX Gold futures for 4 August 2023 settlement slipped 0.27% to Rs 58,053.
The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.24% to 103.16.
The United States 10-year bond yield jumped 0.79% to 3.849.
In the commodities market, Brent crude for August 2023 settlement declined 54 cents or 0.72% to $74.87 a barrel.
Stocks in Spotlight:
Ramco Systems jumped 2.94% after the company's board approved the appointment of Subramanian Sundaresan as chief executive officer (CEO) with effect from 3 July 2023.
IIFL Finance declined 1.08%. The Mumbai-based NBFC announced that it has raised $175 million through external commercial borrowing (ECB) route in the month of June 2023.
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