After opening the day on the positive note, Indian share markets continued its momentum as the session progressed and ended higher.
Benchmark indices hit all-time highs on Wednesday in early trade, driven by foreign fund inflows and optimism in the US markets. The market gave up the record levels later in the day but traded marginally higher.
At the closing bell, the BSE Sensex stood higher by 360 points (up 0.5%).
Meanwhile, the NSE Nifty closed up by 97 points (up 0.5%).
NTPC, IndusInd Bank and Bajaj Finance were among the top gainers today.
Hindalco, TCS and Bajaj Auto on the other hand, were among the top losers today.
Check out the NSE Nifty heatmap to get the complete list of gainers and losers.
The SGX Nifty was trading at 19,782, up by 3 points, at the time of writing.
Broader markets ended on a negative note. The BSE Midcap index and BSE SmallCap ended 0.6% higher.
Sectoral indices ended on a positive note with stocks in the telecom sector, power sector and energy sector witnessing most of the buying.
Shares of MRF and ABB India hit their 52-week highs today.
Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...
Asian stock markets ended on a mixed note. The Nikkei ended higher by 1.2%, while the Hang Seng ended down by 0.3%. The Shanghai Composite ended flat.
The rupee is trading at 82.1 against the US$.
Gold prices for the latest contract on MCX are trading marginally higher at Rs 59,797 per 10 grams.
Meanwhile, silver prices for the latest contract on MCX are trading 0.1% higher at Rs 76,205 per kg.
Speaking of the stock markets, the Indian stock market is on a roll. New highs are being scaled every week.
The sentiment among traders and investors alike is extremely bullish. So bullish in fact that it brings back memories of 1991.
So, what do the charts say? Are we seeing a repeat of the Harshad Mehta rally?
Find out in the below video...
In the news, Jaguar Land Rover-owner Tata Group, today announced its ambitious plan to invest 4 bn Pound in an electric car battery factory in the UK.
his landmark project marks one of the most significant investments in the country's automotive industry to date.
The gigafactory - Tata's first outside of India - includes an investment of 4 billion pounds(Rs 4.2 bn).
The upbeat sentiment around the automaker's luxury arm, Jaguar and Land Rover, has been acting as the major growth trigger for Tata Motors.
Tata's choice of Britain is a win for Prime Minister Rishi Sunak's government, which had pledged to grow the economy and had set net zero goals, including a ban on the sale of new petrol and diesel cars from 2030.
Tata Group's multi-billion-pound investment in a new battery factory in the UK is a testament to the strength of our car manufacturing industry and its skilled workers.
The electric vehicle (EV) megatrend is a once in a century revolution happening right in front of us.
The revolution has taken the auto sector by storm. All segments of the sector are ripe for disruption, and India's top EV stocks are set to benefit from this shift.
Take a look at the chart below, which shows the massive opportunity in the two-wheeler EVs.
As you're interested in Tata group stocks, check out the new section in our Stock Screener, where you can view the fundamentals of companies within a business group in one screen, including the Top Tata group stocks.
Moving on, HCL Group is eyeing expansion in India's thriving semiconductor sector.
The group is expected to submit a proposal to the Indian government to establish an assembly, testing, marking, and packaging (ATMP) facility for semiconductors, with an estimated project value of $200-300 million (approximately Rs 14.9-22.4 bn).
It should be noted that it is the HCL Group leading this project, the group's IT exports division valued at US$ 12.6 bn (approx. Rs 942.3 bn).
The HCL Group plans to apply for standard operating procedures (SOPs) under the US$ 10 bn (approx. Rs 745 bn) semiconductor incentive program. This program offers subsidies from the central and state governments, covering up to 75% of the capital expenditure for companies setting up semiconductor facilities in India.
This announcement by HCL Group follows closely on the heels of Micron's recent plans to establish an Outsourced Assembly and Test (OSAT) facility in Gujarat.
Micron, a chipmaker, intends to invest US$ 825 m (Rs 61.5 bn) in the project, with a total investment of US$ 2.8 bn (Rs 205.4 bn) in collaboration with the Indian government and the Gujarat state government. Micron's project is expected to contribute significantly to the growth of India's chipmaking industry.
For more, check out the top semiconductor companies in India that have been contributing to the growth of the Indian semiconductor industry.
Moving on to news from the power sector, Torrent Power has successfully commissioned a 115 MW Wind Power Project through its wholly owned subsidiary Torrent Solargen Limited in Devbhumi Dwarka District of Gujarat.
The company was awarded the project through a competitive bidding process under SECI Wind Tranche V.
The company signed a Power Purchase Agreement (PPA) for 25 years with SECI, which has a back-to-back Power Sale Agreement (PSA) with the state of Haryana.
The project was completed overcoming several challenges like Covid-19, changes in land allocation policy, RoW issues, extreme weather conditions etc.
The successful commissioning of the project is another example of the company's strong execution skills and capacity to deliver and operate utility-scale projects. The wind turbines for the project have been sourced from GE.
Torrent Power is an integrated power utility and the largest private sector players in India.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
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