Stock Market: Sensex Gains 267 Points, Nifty Around 19,400. Jio Fin Drops 5%; Power, Realty Lead

Stock update today: On the 30-share Sensex platform, Bajaj Finance, IndusInd Bank, Airtel, NTPC, ITC, Bajaj Finserv, Infosys emerged gainers

In the broader markets, the BSE Midcap and Smallcap indices added nearly 1 per cent each.

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The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green, led by buying across the sectors amid mixed global cues. The S&P BSE Sensex touched a high of 65,336, gaining as much as 485 points from the day’s low of 65,853. Eventually, the BSE benchmark index ended 267 points higher at 65,216. On the other hand, the NSE Nifty 50 touched a high of 19,426, and ended at 19,394, up 83 points.

On the 30-share Sensex platform, Bajaj Finance, IndusInd Bank, Airtel, NTPC, ITC, Bajaj Finserv, Infosys emerged gainers. On the downside, JioFin, Reliance, M&M, Maruti, SBI, UltraCemco, and HDFC Bank were the losers.

Jio Financial Services, which debuted on Monday, saw an enormous amount of volume even as the stock was locked at the 5 per cent lower circuit at Rs 251, after listing at Rs 265 as against the special discovery price of Rs 261.85. The counter saw trades of around 78 million shares on the BSE and the NSE.

#ABPLiveStockMarketWatch | The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green, led by buying across the sectors amid mixed global cues.

At 04:00 PM, #Sensex gained 267 points to 65,216 & #Nifty went up 83 points to close at 19,395

Here's a look at… pic.twitter.com/pujzHBX9Dz

— ABP LIVE (@abplive) August 21, 2023

In the broader markets, the BSE Midcap and Smallcap indices added nearly 1 per cent each.

Sectorally, all the indices were trading in the green with information technology, realty, metal, power, and capital goods up 1-2 per cent.

In the previous session on Friday, the S&P BSE Sensex closed at 64,949, down 202 points, while the NSE Nifty50 settled at 19,310, down 55 points.

"Asian stocks stumbled on Monday after China delivered a smaller cut to lending rates than markets had counted on, continuing Beijing's run of disappointingly frugal stimulus steps. European stocks rebounded from a one-month low as higher energy prices buoyed oil producers," Deepak Jasani, Head of Retail Research, HDFC Securities, said.

In Asian markets, Seoul, and Tokyo settled in the green, while Shanghai and Hong Kong ended lower. European markets were trading with gains. The US markets ended on a mixed note on Friday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 266.98 crore on Friday, according to exchange data.

Global oil benchmark Brent crude climbed 0.60 per cent to $85.31 a barrel.

Meanwhile, the rupee depreciated by 2 paise and settled for the day at an all-time low of 83.12 (provisional) against the US dollar on Monday, weighed down by a surge in crude oil prices and selling pressure by foreign investors. Forex traders said rupee is likely to trade with a negative bias on risk aversion in global markets.

At the interbank foreign exchange market, the local unit opened at 83.10 against the US dollar and moved in a range of 83.05 to 83.13 in the day trade. The rupee finally settled at 83.12 (provisional) against the US dollar, down 2 paise from its previous close. On Friday, the rupee edged lower by 1 paisa to settle at an all-time low of 83.10 against the US dollar, weighed down by a negative trend in domestic equities, and foreign fund outflows.