Share Market Today: Sensex, Nifty Open In Green, PSU Bank Drags Lower

The two key equity benchmarks, Sensex and Nifty, attempted to recover the losses incurred in the last trading session during the early trading hours on Monday. The S&P BSE Sensex traded above the 74,000 mark in the pre-open hours, while the NSE Nifty50 stood over 22,500.
As of 9:30 AM, the Sensex stood at 74,332.20, climbing more than 450 points, while the Nifty50 inched closer to the 22,600 mark and stood at 22,586.25, gaining about 111 points. 

Stock update

On the 30-share Sensex platform, Kotak Mahindra Bank, TCS, Infosys, M&M, and IndusInd Bank emerged as the gainers as market opened, with Kotak Bank climbing more than 4 per cent. Titan, State Bank of India, PowerGrid, NTPC, and Larsen & Toubro were among the laggards. 

On the NSE, Coal India emerged as the major loser with the stock falling almost 6 per cent in the early opening hour.

Sectoral update

In the broader market, the indices traded majorly in red. The Nifty Next 50 and Nifty Microcap 250 dominated the losses and traded 1.74 per cent and 1.57 per cent lower respectively. 

Sectorwise, the Nifty IT sector emerged as the primary gainer and climbed 1.20 per cent, followed by Private Bank, Realty, Midsmall Healthcare, and FMCG indices. 

The remaining sectors traded in red, led by the Nifty PSU Bank which plunged more than 4 per cent. The Oil & Gas and Metal indices followed with a fall of 1.93 per cent and 1.91 per cent respectively. 

In the last trading session on Friday, the Sensex plunged over 700 points to touch 73,878, while the Nifty50 fell almost 200 points to settle at 22,476. Both the indices also reached fresh intraday lows in the session.

Rupee Movement

The Indian currency appreciated 3 paise to touch 83.42 against the US dollar in early trade on Monday.

Macroeconomic Updates

Global oil benchmark Brent crude gained 0.23 per cent to touch $83.15 per barrel. The Foreign Institutional Investors (FIIs) dumped equities worth Rs 2,391.98 crore on Friday, official exchange data revealed.