Share Market Today: Sensex Gains 370 Points; Nifty Above 22,450. HCL Drops 5 Per Cent

The two key equity benchmarks, Sensex and Nifty, on Monday opened in the green, tracking gains in Asian markets. At 10 am, the S&P BSE Sensex rose 371 points to 74,101. On the other hand, the NSE Nifty50 was trading at 22,488, up 68 points.

Stock update

On the 30-share Sensex platform, TechM, ICICI Bank, InduInd Bank, Tata Steel, UltraCemco, Sun Pharma emerged gainers. On the down side, HCLTech, dropped 5.70 per cent, followed by M&M, ITC, PowwrGrid, Wipro, Bajaj Finserv, and SBI. About 1,922 shares gained, 1164 shares declined, while 126 shares remain unchanged.

In the broader markets, the BSE Midcap and the Smallcap indices advanced 0.7 per cent each.

Sectoral update

Sectorwise, bank, metal and oil & gas are trading in the green, while selling can be seen in auto, realty, healthcare indices.

In the previous session on Friday, the S&P BSE Sensex sank 609 points to close at 73,730, while the NSE Nifty50 closed at 22,420, down 150 points.

Global market update

In Asian markets, Seoul, Shanghai, and Hong Kong were trading in the positive territory. Wall Street ended with gains on Friday.

Global oil benchmark Brent crude declined 0.89 per cent to $88.70 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,408.88 crore on Friday, according to exchange data.

Rupee slips 5 paise

Meanwhile, the Indian currency declined 5 paise to 83.43 against the US dollar in early trade on Monday amid a strong American currency overseas and withdrawal of foreign funds from domestic equity markets. However, positive sentiment in the domestic equity markets and retreating crude oil prices in international markets supported the Indian currency at lower level, forex traders said.

At the interbank foreign exchange, the domestic unit opened weak at 83.39 against the greenback and then slipped further to 83.43, registering a loss of 5 paise compared to its previous closing level. On Friday, the rupee had declined 10 paise to close at 83.38 against the US dollar.