Share Market Today: Sensex Rises 250 Points; Nifty Near 24,100. Auto, FMCG Stock Up
Share market today: On the 30-share Sensex platform, TechM, TCS, JSW Steel, HUL, Airtel, Tata Steel emerged gainers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday are trading higher amid buying in blue-chip stocks. At 10.20 am, the BSE Sensex jumped 250 points to 79,282. On the other hand, the NSE Nifty50 was trading at 24,092, up 82 points.
Stock update
On the 30-share Sensex platform, TechM, TCS, JSW Steel, HUL, Airtel, Tata Steel emerged gainers. On the down side, NTP, PowerGrid, Sun Pharma, L&T, SBI, IndusInd Bank were among the losers.
In the broader markets, the BSE Midcap index jumped 0.25 per cent and the BSE Smallcap index rose 0.69 per cent.
Sectoral update
Sectorally, Nifty Metal, Nifty Pharma, and Nifty IT are trading in the green, while Nifty Realty and Nifty PSU Bank dropped.
In the previous session on Friday, the BSE Sensex settled 210 points lower at 79,032, while NSE Nifty50 slipped 34 points to 24,011.
"Despite high valuations the market is likely to remain resilient. The healthy trend in the recent rally, which has pushed Nifty by 6.5 per cent in June, is that it is being led by fundamentally strong largecaps like RIL, leading private sector banks and Bharti Airtel," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
In Asian markets, Seoul, Tokyo and Shanghai were quoting higher. US markets ended lower on Friday.
Global oil benchmark Brent crude rose 0.52 per cent to $85.44 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 23.09 crore on Friday, according to exchange data.
Rupee slips 9 paise
Meanwhile, the rupee depreciated 9 paise to 83.43 against the US dollar in early trade on Monday amid rising crude oil prices and outflow of foreign capital. The domestic unit, however, found support due to a softening American currency and positive equity market sentiment, forex traders said.
At the interbank foreign exchange market, the local unit opened at 83.39 and lost further ground to trade at 83.43 against the greenback in initial deals, registering a fall of 9 paise from its previous closing level.
On Friday, the rupee settled 11 paise higher at 83.34 against the US dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 105.30, lower by 0.23 per cent.
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