Stock Market: Sensex Rises 200 Points, Nifty Around 19775. NTPC, Bajaj Finserv, L&T Top Gainers

Stock update: On the 30-share Sensex platform, NTPC, Bajaj Finserv, L&T, PowerGrid, Airtel, HCL were among the early gainers. Wipro, TCS, ITC, Kotak Bank, JSW Steel, Sun Pharma emerged losers

In the broader markets, the Nifty Midcap wet up 0.4 per cent and the Nifty Smallcap index hit a record high, adding 0.8 per cent. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, on Thursday were trading higher amid weak global trends. At 9.56 am, the BSE Sensex gained 186 points to 66,451. On the other hand, the NSE Nifty was trading at 19,775, up 48 points.

On the 30-share Sensex platform, NTPC, Bajaj Finserv, L&T, PowerGrid, Airtel, HCL were among the early gainers. On the downside, Wipro, TCS, ITC, Kotak Bank, JSW Steel, Sun Pharma emerged losers.

#ABPLiveStockMarketWatch | Senses and Nifty were trading higher amid weak global trends, on Friday
At 09:35 AM, #Sensex went up by 242 points to 66,508 & #Nifty by 53 points to 19,780

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/Eo4ZApqp6v

— ABP LIVE (@abplive) September 8, 2023

In the broader markets, the Nifty Midcap wet up 0.4 per cent and the Nifty Smallcap index hit a record high, adding 0.8 per cent.

Sectorwise, the Nifty Realty index added 0.7 per cent, the Nifty PSU Bank and Metal indices gained 0.5 per cent each, while the Nifty Auto index advanced 0.23 per cent, hitting a new all-time high. The Nifty IT index fell 0.26 per cent.

In the previous session on Thursday, the S&P BSE Sensex rose 385 points to 66,265. On the other hand, the Nifty was up 116 points at 19,727.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading in the negative territory. The US markets ended on a mixed note on Thursday.

Global oil benchmark Brent crude declined 0.53 per cent to $89.44 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 758.55 crore on Thursday, according to exchange data.

"Sustained DII (Domestic Institutional Investors) investment supported by strong retail buying is driving the market higher in spite of FII selling. In spite of this net institutional selling, Nifty is up by 434 points for the month so far. This, and the hyper activity in the mid and smallcap segments, point to the active participation of retail investors in the rally," said V K Vijayakumar, chief investment strategist at Geojit Financial Services.

Meanwhile, the rupee recovered from its all-time low levels and appreciated by 10 paise to 83.13 against the US dollar in early trade on Friday, tracking a positive trend in domestic equities. Forex traders said the rupee is trading in a narrow range as firm crude oil prices and the strength of the American currency in the overseas market dented investor sentiments, while positive domestic equities cushioned the downside.

At the interbank foreign exchange, the domestic unit opened at 83.13, registering a rise of 10 paise over its last close. On Thursday, the rupee depreciated 10 paise to its lifetime low of 83.23 against the US dollar.