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While the currency touched an intraday low of 83.9675, it managed to hold above its all-time low, underpinned by "intermittent offers (on USD/INR)" by state-run banks, a senior trader at a foreign bank said.

The Nifty50 closed higher after hitting a record 25,129.6, led by IT stocks. Here are the stocks that witnessed maximum movement in today’s session.

The regulator said such corporate actions create positive sentiment among investors, leading them to purchase these securities. At the same time, this provides promoters with an easy opportunity to offload their holdings at elevated prices.

The stock quoted a 52-week high price of Rs 9191.1 and low of Rs 6406.6.

​I think we got to be a little more forward looking and that is what rewards if you are a little ahead of the cycle. I think now that we are clear that we start with rate cuts, I think financials may come back in flavour, especially NBFCs which have been completely out of favour, because NBFCs rely more on wholesale sources of funding versus banks and still have CASA.

Short covering happens when traders buy back shares they previously sold short, often due to a shift in market sentiment or new information.

Bharti Airtel and IndiGo stocks soared to new all-time highs on Wednesday, with Bharti Airtel reaching Rs 1,545.85 (up 1.5%) and IndiGo climbing to Rs 4,944.60 (up 4.2%). Other stocks hitting their 52-week highs include IEX, ICICI General Insurance, Indian Hotels, Lupin, MCX, and SBI Life Insurance Company.

I do think IT is playing a big catch up, given that global IT stocks have already done well. The Indian IT stocks were lagging behind for a long time. So that is getting priced in. If I simply look at the IT Index, it looks like heading towards 48,000-49,000 in the coming week, so possibly got a long way to go.

Despite 77% of Nifty 100 stocks trading above their 20-day DMAs and 63% above their 50-DMAs, 16 stocks, including six Adani Group stocks and several PSUs, have fallen below both moving averages. According to Ace Equities data, this indicates generally favorable trends for large-cap stocks.