Share Market Today: Sensex Jumps 676 Points; Nifty Settles Above 22,400 On Global Cues

Share Market Today: On the 30-share Sensex platform, M&M, TechM, Airtel, Infosys, Titan, JSW Steel emerged gainers. Maruti, Tata Motors, SBI, PowerGrid, IndusInd Bank were among the losers

The two key equity benchmarks, Sensex and Nifty, on Thursday closed nearly 1 per cent higher in a volatile session tracking global cues. The S&P BSE Sensex, which oscillated 1,220 points during the day, closed at 73,6634, up 677 points. On the other hand, the NSE Nifty50 settled at 22,404, up 203 points. The benchmark moved in a range of 22,055 to 22,432 in intra-day trading.

Stock update

On the 30-share Sensex platform, M&M, TechM, Airtel, Infosys, Titan, JSW Steel emerged gainers. On the down side, Maruti, Tata Motors, SBI, PowerGrid, IndusInd Bank were among the losers.

In the broader markets, the BSE Midcap and Smallcap indices ended 1.07 per cent and 0.85 per cent higher, respectively.

Sectoral update

Sectorally, Nifty PSU bank index was the only loser, dipping 0.88 per cent. Nifty Realty jumped 1.63 per cent, Nifty Media advanced 1.2 per cent, while Nifty Financial Services gained 1 per cent.

In the previous session on Wednesday, the BSE Sensex declined 118 points to settle at 72,987, while NSE Nifty50 declined 17 to 22,201.

"The market exhibited volatility during trading hours but managed to gain nearly one per cent, indicating a continuation of its recovery trend. Positive global cues led to a gap-up opening in the Nifty; however, the initial gains diminished quickly as the session progressed. Subsequently, it witnessed sharp fluctuations on both sides before settling near the day's peak," said Ajit Mishra – SVP, Research, Religare Broking Ltd.

Global market update

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

Global oil benchmark Brent crude declined 0.33 per cent to $82.45 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,832.83 crore on Wednesday, according to exchange data.

Rupee settles 4 paise lower 

Meanwhile, the rupee stayed range-bound and settled 4 paise lower at 83.50 (provisional) against the US dollar on Thursday, weighed down by unabated foreign fund outflows amid investors' weak appetite for riskier assets. However, a firm trend in domestic equities supported the local unit and restricted its losses, forex traders said.

At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.45 and touched an intraday high of 83.44 and a low of 83.50. The domestic unit finally settled for the day at 83.50 (provisional), down 4 paise from its previous close. On Wednesday, the rupee had settled at 83.46 against the US dollar.