Share Market Today: Sensex Rises 225 Points; Nifty Over 24350. Maruti Gains 4 Per Cent. IT Stock Slips
Share market today: On the 30-share Sensex platform, Maruti is the lead gainer, rising 4.49 per cent, followed by Titan, L&T, Adani Ports, Tata Steel, ITC
Share market today: The two key equity benchmarks, Sensex and Nifty, on Tuesday are trading in the green tracking mixed global cues amid buying in blue-chip stocks and foreign fund inflows. At 10.10 am, the BSE Sensex rose 225 points to 80,185. On the other hand, the NSE Nifty50 was trading at 24,369, rising 49 points.
Stock update
On the 30-share Sensex platform, Maruti is the lead gainer, rising 4.49 per cent, followed by Titan, L&T, Adani Ports, Tata Steel, ITC. On the down side, Reliance, IndusInd Bank, Axis Bank, JSW Steel, UltraCemco, HUL were among the losers.
In the broader markets, Nifty Smallcap jumped 0.67 per cent, while Midcap advanced 0.57 per cent.
Sectoral update
Sectorally, auto index was the best performer, jumping over 1 per cent. Nifty Consumer Durables also advanced nearly 1 per cent. On the other hand, IT index was the major laggard, slipping 0.2 per cent.
In the previous session on Monday, the BSE benchmark dropped 36 points to settle at 79,960, while the NSE Nifty fell 3 points to 24,321.
"The market is exhibiting strength and is showing no signs of a sharp correction despite the high valuations. A healthy trend in the market is that fundamentally strong largecaps are seeing buying. The rising accumulation and delivery-based buying in largecaps like RIL and ITC is a reflection of this healthy trend," said V K Vijayakumar, chief investment strategist, Geojit Financial Services.
Global update
In Asian markets, Seoul and Tokyo were trading higher while Shanghai and Hong Kong quoted lower. US markets ended mostly higher on Monday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 60.98 crore on Monday, according to exchange data.
Global oil benchmark Brent crude declined 0.28 per cent to $85.51 a barrel.
Rupee trades flat
The rupee traded flat at 83.50 against the US currency in the opening session on Tuesday as the impact of a firm dollar in the overseas markets was offset by easing crude oil prices.
At the interbank foreign exchange market, the rupee opened marginally up 1 paisa at 83.49 against the American currency. The local unit moved in a narrow range of 83.49 to 83.51 in restricted trade in the opening session.
The rupee traded at 83.50 to a US dollar at 0925 hrs. The domestic unit had closed at 83.50 against the US dollar on Monday. According to forex traders, the rupee moved in a tight range in the early session due to mixed global cues.
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