Nifty Soars Over 82 Points, Breaches 9300-Mark for First Time

The 50-share NSE Nifty ended lower by 38.10 points, or 0.41 per cent, at 9,304.05, after shuttling between 9,342.65 and 9,282.25.

At 11.00 am, the Sensex was trading 106 points or 0.35 per cent down at 29,924 while the Nifty50 was trading 37 points or 0.39 per cent lower at 9,305.

Nifty Bank outperformed benchmarks, ending at record closing high of 22,326.30 with 0.4 percent gains as IDFC Bank (up 6.2 percent), Yes Bank (3.79 percent), Kotak Mahindra Bank (1.58 percent) and HDFC Bank (0.4 percent) were leading contributors.

Nifty, Nifty bank, Sensex, Nifty Midcap closed at their record high levels on Tuesday. It also broke the previous intra-day record of 9,309.20.

The BSE 30-share Sensex was quoting at 29,926.96 at 1430 hrs, up 271.12 points, or 0.91 per cent.

On the other hand, Asian shares also ended higher following a relief rally in global equities after centrist candidate Emmanuel Macron won the first round of the French presidential election. It had gained 5.9% in the previous three days.

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Besides, the rupee appreciating against the dollar to trade at a near 21-month high of 64.07 fuelled the bull run of the bourses. Japan's Nikkei 225 index declined 0.2% while South Korea's Kospi index rose 0.1%.

In terms of investments, provisional data with the exchanges showed that the foreign institutional investors (FIIs) sold scrip worth Rs 181.71 crore, while the domestic institutional investors (DIIs) purchased scrip worth Rs 233.31 crore.

However, the RBI intervened in the market through state-run banks in both the spot and the forward markets to prevent further gains in the rupee, he added.

Elsewhere in Asia, China's Shanghai Composite index ended 0.4% higher and Hong Kong's Hang Seng index closed up 0.5%. London's FTSE fell 0.25 percent, while Paris CAC 40 rose 0.25 percent and Frankfurt's DAX gained 0.13 percent in early deals.

HDFC Bank fell over 1 per cent, becoming the top loser on the Sensex even after the scrip's market capitalisation crossed the Rs 4 lakh crore mark yesterday and a strong Q4 earnings report.

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