At 11:30 IST, the barometer index, the S&P BSE Sensex was up 205.26 points or 0.25% to 80,192.15. The Nifty 50 index added 55.40 points or 0.23% to 24,341.90.
The Sensex and Nifty clocked an all-time high of 80,392.64 and 24,401, respectively in morning trade. Further, the Nifty Bank also hits record high at 53,357.70 in early trade.
In the broader market, the S&P BSE Mid-Cap index added 0.42% and the S&P BSE Small-Cap index rose 0.49%.
The S&P BSE Mid-Cap and S&P BSE Small-Cap index hit an all-time high at 47,043.80 and 53,775.17, respectively.
The market breadth was positive. On the BSE, 2,124 shares rose and 1,644 shares fell. A total of 119 shares were unchanged.
IPO Update:
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The initial public offer (IPO) of Bansal Wire Industries received 5,84,40,278 bids for shares as against 2,14,60,906 shares on offer, according to stock exchange data at 11:15 IST on Thursday (04 July 2024). The issue was subscribed 2.72 times.
The issue opened for bidding on Wednesday (03 July 2024) and it will close on Friday (05 July 2024). The price band of the IPO is fixed between Rs 243 to Rs 256 per share. An investor can bid for a minimum of 58 equity shares and in multiples thereof.
The initial public offer (IPO) of Emcure Pharmaceuticals received 2,93,15,594 bids for shares as against 1,37,03,538 shares on offer, according to stock exchange data at 11:15 IST on Thursday (04 july 2024). The issue was subscribed 2.14 times.
The issue opened for bidding on Wednesday (03 July 2024) and it will close on Friday (05 July 2024). The price band of the IPO is fixed between Rs 960 to Rs 1,008 per share. An investor can bid for a minimum of 14 equity shares and in multiples thereof.
Buzzing Index:
The Nifty Pharma Index gained 0.76% to 20,066.95. The index rallied 2.82% in five consecutive trading sessions.
Lupin (up 5.22%), Granules India (up 2.06%), Ipca Laboratories (up 1.03%), Laurus Labs (up 0.94%), Sun Pharmaceuticals Industries (up 0.85%), Sanofi India (up 0.84%), Mankind Pharma (up 0.73%), Abbott India (up 0.35%), Natco Pharma (up 0.31%) and Alkem Laboratories (up 0.17%) advanced.
On the other hand, Biocon (down 1.29%), Torrent Pharmaceuticals (down 0.81%) and J B Chemicals & Pharmaceuticals (down 0.57%) edged lower.
Stocks in Spotlight :
Persistent Systems rallied 2.29% after the company acquired a 100% stake in US-based software company Starfish Associates for $20.7 million.
GE T&D India rallied 3.08% after the company announced the receipt of an international order from Grid Solutions SAS, France, worth 64 million Euros (approximately Rs 576.43 crore).
Global Markets:
Most Asian stocks traded higher on Thursday as Wall Street indexes, including the S&P 500 and NASDAQ Composite, hit record highs in holiday-shortened trading. Weak labor data, along with purchasing managers index readings, fueled investor bets on a 25 basis point rate cut by the Federal Reserve in September.
Meanwhile, minutes from the Fed meeting revealed concerns about a slowing economy and subsiding inflation, but officials desire additional data to justify rate cuts, leaving investors in wait-and-see mode.
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