Stock Market: Sensex Jumps 232 Points, Nifty Nears 19,600. M&M Up 4 Per Cent; Pharma, IT Lead

Stock update: On the 30-share Sensex platform, M&M, Sun Pharma, Bajaj Finserv, TCS, Infosys, JSW Steel emerged gainers

The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green for the second consecutive session. The S&P BSE Sensex ended at 65,953 levels, up 232 points. On the other hand, the NSE Nifty50 rose 80 points to settle at 19,597 levels.

 On the 30-share Sensex platform, M&M, Sun Pharma, Bajaj Finserv, TCS, Infosys, JSW Steel emerged gainers. On the down side, SBI, Tata Motors, Axis Bank, Kotak Bank, Bajaj Finance, Tata Steel were among the losers.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices closed with 0.5 per cent and 0.25 per cent gains, respectively.

Volatility gauge, India VIX, meanwhile, jumped 5 per cent.

Sectorwise, Nifty Pharma, Healthcare, and Information Technology indices up 1 per cent each, and realty index added 0.5 per cent. However, PSU Bank index declined 0.6 per cent.

On the IPO part, Concord Biotech issue was subscribed 1.9 times on the second day of the offer. The subscription was led by employees (13 times), followed by non-institutional investors (3.8 times), and retail (2 times).

In the previous session on Friday, the S&P BSE Sensex ended 480 points higher at 65,721, while the NSE Nifty50 closed at 19,517, up 135 points.

In Asian markets, Tokyo settled in the green while Seoul, Shanghai, and Hong Kong ended lower. European markets were trading in the negative territory. The US markets ended lower on Friday.

Global oil benchmark Brent crude declined 0.73 per cet to $85.63 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 556.32 crore on Friday, according to exchange data. After five months of sustained buying, foreign investors have turned net sellers and pulled out over Rs 2,000 crore from the Indian equities in the first week of August.

Meanwhile, the rupee gained 5 paise to close at 82.76 (provisional) against the US dollar on Monday, tracking positive domestic equities. However, sustained foreign fund outflows and a stronger American currency in the overseas market dented investor sentiments, forex traders said.

At the interbank foreign exchange market, the local unit opened at 82.73 against the US dollar and moved in a range of 82.71 to 82.77 in the day trade. The rupee finally settled 5 paise higher at 82.76 (provisional) against the previous close of 82.81 on Friday.