Share Market Today: Sensex Gains 128 Points; Nifty Near 22,650. Banks Settles In The Red

Share Market Today: On the 30-share Sensex platform, PowerGrid jumped 3.91 per cent, followed by Asian Paints, Tata Motors, NTPC, Tata Steel, Sun Pharma

Share Market Today: In the broader markets, the BSE Midcap and Smallcap indices closed 0.9 per cent and 0.0.29 per cent, respectively.

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The two key equity benchmarks, Sensex and Nifty, on Thursday closed in the green, a day after the US Fed kept key interest rates unchanged at 5.5 per cent. The BSE Sensex rose 128 points to 74,611. On the other hand, the NSE Nifty50 settled at 22,648, up 43 points.

Stock update

On the 30-share Sensex platform, PowerGrid jumped 3.91 per cent, followed by Asian Paints, Tata Motors, NTPC, Tata Steel, Sun Pharma. On the down side, Kotak Bank, Axis Bank, Airtel, Wipro, ICICI Bank, Bajaj Finance emerged lower.

In the broader markets, the BSE Midcap and Smallcap indices closed 0.9 per cent and 0.0.29 per cent, respectively.

Sectoral update

Sectorally, auto, metal, oil & gas, power advanced 1 per cent each, while bank and realty indices ended marginally in the red.

In the previous session on Tuesday, the BSE Sensex closed at 74,482, down 189 points, while the NSE Nifty50 ended 39 points lower at 22,605. Sensex and Nifty were closed on Thursday on occasion of Maharashtra Day.

"Trading in the markets remained lacklustre, closing marginally higher amid a blend of signals. The Nifty commenced positively but remained confined to a narrow range throughout the day, eventually settling at 22,648.20 on the weekly expiry day. Global cues presented a mixed picture, contributing to subdued sentiment, albeit with an overall positive undertone," said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Global market updates

In Asian markets, Hong Kong settled with gains while Seoul, Tokyo and Shanghai ended lower. European markets were trading on a mixed note. Wall Street ended mixed on Wednesday.

Global oil benchmark Brent crude climbed 1.02 per cent to $84.29 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,071.93 crore on Tuesday, according to exchange data.

Rupee falls 3 paise 

The rupee stayed range-bound and closed 3 paise lower at 83.46 (provisional) against the US dollar on Thursday amid a strong American currency and rising crude oil prices in global markets. Forex traders said positive sentiment in the domestic equity markets and the inflow of foreign capital capped a sharp fall in the domestic currency.

At the interbank foreign exchange, the domestic unit opened strong at 83.41 and touched the intra-day low of 83.49 against the greenback. The local unit finally settled at 83.46 (provisional) against the dollar, down 3 paise from its previous close. The rupee had settled 2 paise higher at 83.43 against the dollar on Tuesday, a day after losing 7 paise on Monday.