Stock Market: Sensex Rises 367 Points, Nifty At 19,750. NTPC Up 4 Per Cent; Metals, IT Shine

Stock update: On the 30-share Sensex platform, NTPC became the lead gainer, up 4.02 per cent, followed by PowerGrid, TechM, Tata Steel, TCS, Wipro, Maruti

The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green paring the losses amid positive global sentiment. The domestic indices, however, began trading flat amid volatility. The S&P BSE Sensex gained 367 points to end at 66,528. On the other hand, the NSE Nifty50 reclaimed the 19,750-mark to end at 19,754 levels, up 108 points.

On the 30-share Sensex platform, NTPC became the lead gainer, up 4.02 per cent, followed by PowerGrid, TechM, Tata Steel, TCS, Wipro, Maruti. On the downside, Bajaj Finance, Kotak Bank, HUL, ITC, Airtel, Asian Paints, and Nestle were among the losers.

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

Sectorally, the Nifty Metal index jumped 1.58 per cent, followed by the Nifty IT index (up 1.44 per cent). Auto, oil & gas, power, and capital goods also gained 1-2 per cent. On the contrary, the Nifty FMCG index slipped 0.67 per cent.

In the previous session on Friday, the S&P BSE Sensex settled at 66,160, down 107 points, while the NSE Nifty50 closed with a minor loss of 14 points at 19,646.

"Nifty resumed the uptrend on Monday after a two-day fall aided by positive global cues and buying in IT and metal stocks," said Deepak Jasani, Head of Retail Research, HDFC Securities.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended in the green. European markets were trading on a mixed note. The US markets had ended in the positive territory on Friday.Meanwhile, global oil benchmark Brent crude climbed 0.25 per cent to $85.20 a barrel.

Foreign institutional investors (FIIs) offloaded equities worth Rs 1,023.91 crore on Friday, according to exchange data.

Meanwhile, the rupee depreciated 5 paise to close at 82.23 (provisional) against the US dollar, tracking surging crude oil prices and a strong greenback against major rivals overseas. Besides, month-end dollar demand from importers and foreign capital outflows weighed on the local currency, which found some cushion at a lower level due to positive sentiment in the domestic equity markets, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 82.23. It finally settled at 82.23 (provisional) against the American currency, registering a fall of 5 paise against its previous close.

During intra-day, the Indian unit touched the peak of 82.21 and hit the lowest level of 82.29 against the dollar. On Friday, the rupee had settled at 82.18 against the dollar.