Market Update: Equity market on record high, Rupee depreciates

The 30-share Sensex rose to an all-time high (intra-day) of 41,163.79 before setting up by 109.56 points or 0.27 per cent at 41,130.17 its record closing high. The broader NSE Nifty also closed at a fresh life-time high of 12,151.15. On the currency front, the rupee depreciated 27 paise against the US dollar to 71.62.

Mumbai: Benchmark stock indices extended their record-breaking run for the second day on Thursday, propped up by gains in index heavyweights ICICI Bank and Reliance Industries, which became the first Indian firm to breach the Rs 10-lakh crore market valuation mark.

The 30-share Sensex rose to an all-time high (intra-day) of 41,163.79 before setting up by 109.56 points or 0.27 per cent at 41,130.17 -- its record closing high.

The broader NSE Nifty closed at a fresh life-time high of 12,151.15, up by 50.45 points or 0.42 per cent over the previous close.

Reliance Industries (RIL) became the first Indian company to settle above the Rs 10 lakh crore market valuation mark, ending 0.65 per cent higher.

Top gainers and losers

IndusInd Bank was the top gainer in the Sensex pack, rising 2.68 per cent.

ICICI Bank closed with gains 2.68 per cent amid reports that the lender may file a plea with market regulator Sebi to settle charges of violation of listing disclosure norms involving former CEO and MD Chanda Kochhar and Videocon group. Also, the lender announced the sale of its 7.8 per cent stake in Shree Benzophen Industries for around Rs 9,00,000.

Yes Bank, Tata Steel, SBI, TCS, L&T and Infosys also advanced.

On the other hand, Hero MotoCorp, HDFC twins, Bajaj Auto, Tata Motors and Maruti settled with losses.

The sustained inflow of foreign investment and short-covering amid the expiry of November derivatives contracts also contributed to the rally, traders said.

Investor wealth

Investor wealth rose Rs 1.87 lakh crore in a two-day market rally, where the benchmark indices ended at fresh closing highs on Thursday.

At the close of trade, market capitalisation (m-cap) of the BSE-listed companies went up by Rs 1,87,370.56 crore to Rs 1,55,57,484.15 crore in two days on the BSE.

Global Market

Asian markets closed with losses after China said it was ready to take "firm countermeasures" against the United States after President Donald Trump signed a law supporting pro-democracy protesters in Hong Kong, putting a dampener on hopes of an early trade truce over tariffs. Stocks in Europe were trading on a negative note.

Rupee vs Dollar

On the currency front, the rupee depreciated 27 paise against the US dollar to 71.62. Brent crude, the global oil benchmark, fell 0.62 per cent to USD 62.62 per barrel in futures trade.

Gold, silver Prices

Gold went down marginally by Rs 3 to Rs 38,535 per 10 gram in the national capital on the absence of demand, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 38,538 per 10 gram, it said.

Silver prices also declined by Rs 91 to Rs 45,293 per kg from Wednesday's close of Rs 45,384 per kg.