Share Market Today: Sensex Jumps 309 Points; Nifty Above 23,555. Private Banks Lead
Share market today: On the 30-share Sensex platform, PowerGrid, Wipro, Titan, ICICI Bank, M&M, Axis Bank were among the gainers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Tuesday closed higher after the indices hit record highs in early deals. The BSE Sensex closed at 77,302, up 309 points. On the other hand, the NSE Nifty50 ended at 23,558, up 92 points. The Sensex touched a lifetime high of 77,367 intraday, while the NSE Nifty50 hit 23,579 level.
Stock update
On the 30-share Sensex platform, PowerGrid, Wipro, Titan, ICICI Bank, M&M, Axis Bank were among the gainers. On the down side, Maruti, Tata Steel, UltraCemco, Tata Motors, ITC, TCS emerged losers.
The Mcap of all BSE-listed companies settled at Rs 423 trillion or $5.24 trillion
In the broader markets, the BSE Midcap jumped 0.47 per cent, while the BSE Smallcap index advanced 0.96 per cent.
Sectoral update
Sectorally, Nifty Pharma and Media indices dropped up to 0.6 per cent, while Nifty Private Bank and Financial Services indices rose 1 per cent higher each.
In the previous session on Friday, the BSE Sensex gained 182 points to close at 76,993 while the NSE Nifty50 settled at 23,466, up 67 points.
Markets remained closed on Monday on account of Eid Al-Adha.
"Global equities ticked higher on Tuesday, following a tech-led rally in the US the previous night and as an uneasy calm held in Europe post the recent selloff and traders awaited remarks from a horde of US Federal Reserve officials," Deepak Jasani, Head of Retail Research at HDFC Securities, said.
Global update
In Asian markets, Seoul, Tokyo, and Shanghai settled in the positive territory, while Hong Kong ended lower. European markets were quoting with gains in mid-session deals. US markets ended higher on Monday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,175.86 crore on Friday, according to exchange data.
Global oil benchmark Brent crude declined 0.27 per cent to $84.02 a barrel.
Rupee gains 13 paise
Meanwhile, the rupee gained 13 paise to settle at 83.42 (provisional) against the US dollar on Tuesday, buoyed by fresh inflow of foreign capital and a firm trend in domestic equity markets, wherein benchmark indices scaled new peaks.
Forex traders said reports of dollar selling by public sector banks supported the Indian currency. However, higher crude oil prices capped the gains in the local unit. At the interbank foreign exchange market, the local unit opened at 83.52 and hit the intraday high of 83.39 against the greenback during the session.
It finally settled at 83.42 (provisional) against the dollar, registering a gain of 13 paise from its previous close. On Friday, the rupee had settled 1 paisa lower at 83.55 against the US dollar.
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