Share Market Today: Sensex Rises 391 Points; Nifty Settles Above 24400. Maruti Jumps 6 Per Cent
Share market today: On the 30-share Sensex platform, Maruti jumped 6.60 per cent, followed by M&M, ITC, Sun Pharma, Titan, Tata Motors
Share market today: The two key equity benchmarks, Sensex and Nifty, on Tuesday settled near record highs on the back of gains in auto and FMCG shares and foreign fund inflows. The BSE Sensex touched a lifetime peak of 80,397. It ended at 80,352, up 391 points. On the other hand, the NSE Nifty50 index hit a new record high of 24,439. However, it ended at 24,433, up 113 points.
Stock update
On the 30-share Sensex platform, Maruti jumped 6.60 per cent, followed by M&M, ITC, Sun Pharma, Titan, Tata Motors. On the down side, Reliance, Kotak Bank, Bajaj Finance, JSW Steel, Tata Steel, Infosys were among the losers.
In the broader markets, the BSE Midcap and SmallCap indices settled at 0.36 per cent and 0.22 per cent higher, respectively.
Sectoral update
Sectorally, Nifty Auto index gained 2.09 per cent, Nifty PSU Bank index jumped 1.07 per cent, while Nifty Pharma index advanced 1.6 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.
"Both domestic and global factors continue to drive the market momentum. Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing," said Vinod Nair, Head of Research, Geojit Financial Services.
Global update
In Asian markets, Seoul, Tokyo and Shanghai settled higher, while Hong Kong ended lower. European markets were trading mostly 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 0.51 per cent to $85.31 a barrel.
Rupee rises 1 paise
The rupee inched up one paisa at 83.49 (provisional) against the US dollar on Tuesday as gains from strong domestic equities and sliding global crude prices were negated by a surging greenback overseas.
At the interbank foreign exchange market, the rupee started slightly up at 83.49 and hit an intra-day high of 83.47 and a low of 83.51 against the American currency during the session.
It finally settled at 83.49 against the dollar, registering a gain of one paisa over the previous close. On Monday, the rupee settled at 83.50 against the US dollar.
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