By: ABP News Bureau | Updated at : 22 Apr 2024 04:58 PM (IST)
Stock Market News Today: In the broader markets, the BSE Midcap index advanced 0.9 per cent, while the BSE Smallcap index gained over 1.3 per cent. ( Image Source : Getty )
Stock Market News Today: The two key equity benchmarks, Sensex and Nifty, on Monday closed higher, tracking rally among global markets. The S&P BSE Sensex closed 560 points higher at 73,649. On the other hand, the NSE Nifty50 settled at 22,336, up 189 points.
On the 30-share Sensex platform, L&T, Axis Bank, Bajaj Finance, UltraCemco, Wipro, SBI were among the gainers. On the flip side, NTPC, HDFC Bank, JSW Steel, IndusInd Bank, and Tata Steel emerged losers.
In the broader markets, the BSE Midcap index advanced 0.9 per cent, while the BSE Smallcap index gained over 1.3 per cent.
All the sectoral indices closed in the green, with Nifty PSU Bank index rallied 3.3 per cent, Nifty Realty jumped 1.12 per cent, while Nifty Pharma index rose 1.5 per cent.
In the previous session on Friday, the BSE benchmark rose 599 points to end at 73,088, while the NSE Nifty50 gained 151 points to 22,147.
"Global equities were mostly higher on Monday as a relief rally was underway as geopolitical risks subsided," said Deepak Jasani, Head of Retail Research, HDFC Securities. "The Indian market extended last Friday's relief rally as Middle East tension saw some respite, though the situation remains fluid. The recovery was broad-based across sectors, with renewed interest in mid and smallcaps," said Vinod Nair, Head of Research, Geojit Financial Services.
In the Asian stock markets, Seoul, Tokyo, and Hong Kong experienced gains, while Shanghai saw a decline. European markets were also trading positively. On Friday, Wall Street had mixed results. The global oil benchmark, Brent crude, fell by 0.80 per cent to reach $86.59 per barrel.
On Friday, Foreign Institutional Investors (FIIs) became net buyers, purchasing equities worth Rs 129.39 crore, according to exchange data.
The rupee strengthened by 7 paise to close at 83.37 against the US dollar on Monday, thanks to strong domestic markets and a softer US currency.
Forex traders noted that the drop in crude oil prices also bolstered the local currency.
In the interbank foreign exchange market, the rupee opened at 83.40 against the US dollar. It reached an intra-day high of 83.32 and a low of 83.45 against the dollar.
The rupee eventually closed at 83.37, marking a 7 paise rise from its previous close. On Friday, the rupee had gained 8 paise, closing at 83.44 against the US dollar.
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