Sensex crosses 80,000 for first time, banking stocks lead rally

Mumbai, July 3: Indian equity indices opened at record high on Wednesday following a rally in the banking stocks. Sensex and Nifty made a new all-time high of 80,039 and 24,292 respectively.

The Broader market remains positive. On the National Stock Exchange (NSE), out of the total, 1573 were in the green and 628 in the red. At 9:47 a.m., Sensex was at 80,008, up 567 points and 0.71 per cent and Nifty was at 24,290, up 164 points or 0.68 per cent. Banking stocks are leading the rally. Nifty Bank is up 946 points or 1.82 per cent, at 53,115. Shares of HDFC Bank, Kotak Mahindra Bank, ICICI Bank, IndusInd Bank, and Bajaj Finance are the top gainers in the Sensex pack. TCS, Sun Pharma, Infosys, Tech Mahindra, and Wipro are the top losers.

The Nifty Midcap 100 index is at 56,112, up 258 points or 44 per cent, and the Nifty Smallcap 100 index is at 18,617, up 108 points or 0.59 per cent. HDFC Bank shares are in the spotlight on Wednesday, as the company’s weightage in the MSCI index is expected to rise as FIIs have greater room to buy stock. Deven Mehata, Research Analyst at Choice Broking said, “After a gap-up opening Nifty can find support at 24,100 followed by 24,000 and 23,950. On the higher side, 24,250 can be an immediate resistance, followed by 24,300 and 24,400.”