Markets@11: Nifty crosses 25,900 as the indices set new records

The stock markets opened on a strong note and climbed higher, although some volatility was observed. Within the first hour of trading, the Nifty surged to 25,925.80, while the Sensex reached 84,881.73, both rewriting their respective records.

Midcap and smallcap indices also posted record highs.

Adani Total Gas soared by 6% after securing a $375 million foreign loan to expand city gas distribution networks. Bharat Heavy Electricals announced a ₹6,100 crore contract from NTPC for constructing a thermal power plant. The project, slated for completion within two years, boosted the company’s shares by 3%.

Vodafone Idea’s stock jumped by as much as 11% following the announcement of a network development contract, while Indus Towers gained 5%. ITD Cementation, reportedly on Adani Group’s acquisition radar, saw a 5% rise in its stock this morning, adding to its 18% surge over the past two days. KEC International climbed 4% after winning new contracts worth ₹1,003 crore.

The rupee opened stronger today, with the dollar slipping by 2 paise to trade at ₹83.54. The dollar later dropped further to ₹83.44.

Gold prices surged to $2,630 in the global market. In Kerala, gold increased by ₹160 per sovereign, reaching a record ₹55,840.

Crude oil prices are also on the rise, with Brent crossing the $75 mark again.