Share Market Today: Sensex Jumps 131 Points; Nifty Settles Above 23,500. M&M Gains 2.69%

Share Market Today: On the 30-share Sensex platform, M&M (2.69 per cent), PowerGrid, Sun Pharma, Nestle, UltraCemco, ICICI Bank emerged gainers

Share market today: In the broader markets, the BSE Midcap and Smallcap indices closed with gains of 0.37 per cent and 0.27 per cent, respectively.

Source : PTI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green after the indices recouped their losses amid mixed global sentiment. The BSE Sensex rose 131 points to end at 77,341. On the other hand, the NSE Nifty50 closed at 23,538, rising 37 points.

Stock update

On the 30-share Sensex platform, M&M (2.69 per cent), PowerGrid, Sun Pharma, Nestle, UltraCemco, ICICI Bank emerged gainers. On the down side, IndusInd Bank, Adani Ports, Tata Steel, Reliance, Axis Bank, Bajaj Finance were among the losers.

In the broader markets, the BSE Midcap and Smallcap indices closed with gains of 0.37 per cent and 0.27 per cent, respectively.

Sectoral update

Sectorwise, capital goods, auto, FMCG, telecom, and power indices advanced 0.5-1 per cent. On the other hand, Nifty Media index dropped 1.8 per cent, followed by Nifty Metal and PSU Bank indices (down 0.6 per cent each).

In the previous session on Friday, the BSE Sensex ended 269 points lower at 77,210 while NSE Nifty50 declined 66 points to 23,501.

S&P Global Ratings on Monday retained India's GDP growth forecast for the current financial year at 6.8 per cent and said high interest rates and lower fiscal spur would temper demand. In its economic outlook for Asia Pacific, S&P Global Ratings said India's economic growth continues to surprise on the upside with the economy growing 8.2 per cent in the 2023-24 fiscal year.

Global update

In Asian markets, Seoul, Shanghai, and Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading with gains. US markets ended mostly lower on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,790.19 crore on Friday, according to exchange data.

Global oil benchmark Brent crude climbed 0.41 per cent to $85.59 a barrel.

Rupee gains 11 paise

Meanwhile, the rupee appreciated 11 paise to settle at 83.46 (provisional) against the US dollar on Monday, supported by a positive trend in domestic equity markets and stable global crude oil prices.

Forex traders said a weak US dollar against major rivals overseas on Monday also helped the rupee. However, weak Asian markets and renewed geopolitical tensions in the Middle East capped sharp gains. At the interbank foreign exchange market, the local unit opened at 83.52 and hit the intraday high of 83.44 against the greenback during the session.

It finally settled at 83.46 (provisional) against the dollar, registering a gain of 11 paise from its previous close. On Friday, the rupee hit the lowest level of 83.63 but finally settled at 83.57 against the dollar.