Share Market Today: Sensex Rises 328 Points; Nifty Tops 22,200. Metal Index Shines
Share Market Today: On the 30-share Sensex platform, M&M (3.76 per cent), L&T, JSW Steel, NTPC, IndusInd Bank, Sun Pharma emerged gainers
Share Market Today: The two key benchmarks, Sensex and Nifty, on Tuesday closed in the green for a consecutive third day, mainly driven by auto, metal, and banking stocks. The S&P BSE Sensex ended 328 points higher at 73,105. On the other hand, the NSE Nifty50 settled at 22,218, up 114 points.
Stock updates
On the 30-share Sensex platform, M&M (3.76 per cent), L&T, JSW Steel, NTPC, IndusInd Bank, Sun Pharma emerged gainers. On the down side, TCS, Nestle, Axis Bank, ICICI Bank, Bajaj Finance, ITC were among the losers.
In the broader markets, the BSE Midcap gained 1.14 per cent while the BSE Smallcap advanced 1.8 per cent.
Sectoral updates
Sectorally, Nifty Metal emerged as the frontrunner, surging by 2.77 per cent, trailed closely by Nifty Auto and Oil & Gas, both registering a rise of 1.8 per cent. Nifty PSU Bank, Consumer Durables, and Realty showed positive movement, each climbing by 1 per cent. On the flip side, Nifty FMCG and Pharma experienced a dip of 0.5 percent each, leading the pack of losers.
In the previous session on Monday, the S&P BSE Sensex ended at 72,776, up 112 points, while the NSE Nifty50 closed at 22,104, up 49 points.
"Nifty continued to gain for the third consecutive session on Tuesday after rising through the day with minimal corrections. Global equities were mixed in muted trading Tuesday as investors waited for producer prices data for cues on inflation in the world's largest economy and ahead of Federal Reserve Chair Jerome Powell speech later in the day," said Deepak Jasani, Head of Retail Research, HDFC Securities.
Global market updates
In Asian markets, Seoul and Tokyo settled higher while Shanghai and Hong Kong ended lower. European markets were trading mixed. Wall Street ended on a mixed note on Monday.
Global oil benchmark Brent crude declined 0.17 per cent to $83.22 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,498.92 crore on Monday, according to exchange data.
Rupee settles on flat note
Meanwhile, the rupee settled on a flat note at 83.51 (provisional) against the US dollar on Tuesday, as the support from positive domestic markets and favourable inflation data was negated by strong US Dollar and foreign fund outflows. Forex traders said the rupee remains under pressure due to ongoing elections as well as foreign fund outflows and the same shall subside once the results are out.
At the interbank foreign exchange market, the local unit traded in a narrow range. It opened at 83.51, and touched an intraday low of 83.52 during the day. The domestic unit finally settled for the day at 83.51 (provisional), unchanged from its previous close. On Monday, the rupee consolidated in a narrow range and settled flat at 83.51 against the US dollar.
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