Stock Market News Today: Sensex Rises 250 Points; Nifty Over 22,230. PSU Bank, Realty Lead
Stock Market News Today: On the 30-share Sensex platform, UltraCemco, Wipro, Axis Bank, TechM, Bajaj Finance, L&T emerged higher. NTPC, HDFC Bank, JSW Steel, M&M, ITC were among the losers
Stock Market News Today: The two key equity benchmarks, Sensex and Nifty, on Monday climbed in early morning trade, tracking positive Asian cues and dip in Brent Crude prices. At 10.05 am, the BSE Sensex jumped 252 points to 73,340. On the other hand, the NSE Nifty50 was trading at 22,238, up 91 points.
Stock update
On the 30-share Sensex platform, UltraCemco, Wipro, Axis Bank, TechM, Bajaj Finance, L&T emerged higher. On the down side, NTPC, HDFC Bank, JSW Steel, M&M, ITC were among the losers.
In the broader markets, the BSE Midcap and Smallcap indices advanced 0.96 and 1.20 per cent, respectively.
Sectoral updates
All the sectoral indices are trading in the green, with Nifty PSU Bank, Nifty Realty, Nifty Healthcare, and Nifty Consumer Durables lead on the NSE.
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.
"The biggest positive for the market in the near-term is that the feared escalation in the Israel-Iran tension is unlikely to happen. The decline in Brent crude from $90 to $87 is a confirmation of this expected de-escalation," said V K Vijayakumar, chief investment strategist, Geojit Financial Services.
Global Market Updates
In Asian markets, Seoul, Tokyo, and Hong Kong saw positive trading activity, while Shanghai experienced a decline. Wall Street closed with mixed results on Friday.
The global oil benchmark, Brent crude, fell by 0.74 per cent to $86.64 per barrel.
Rupee Rises 5 Paise
On Monday, the rupee strengthened by 5 paise to 83.39 against the US dollar in early trading, buoyed by a strong trend in domestic equities.
Forex traders noted that the local currency's gain was due to the decline of both the American dollar and crude oil prices from their recent highs.
The local unit began at 83.40 against the greenback in the interbank foreign exchange market, later reaching 83.39 during initial trading, marking a 5 paise increase from its previous close. On Friday, the rupee rose by 8 paise to finish at 83.44 against the US dollar.
Forex traders suggest that the Reserve Bank of India may have intervened, aiding in the local currency's recovery.
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