Stock Market: Sensex Rises Over 80 Points, Nifty Above 18,700 Amid Volatility. FMCG, Bank Lead

Stock update: On the 30-share Sensex platform, M&M, ITC, Tata Motors, HUL, IndusInd Bank, HCL were among the gainers

The two key equity benchmarks, Sensex and Nifty, on Monday were trading in the positive zone after opening flat, tracking mixed global cues. At 9.40 am, the BSE Sensex was up 83 points to 63,062. On the other hand, the NSE Nifty was trading at 18,702, up 37 points.

On the 30-share Sensex platform, M&M, ITC, Tata Motors, HUL, IndusInd Bank, HCL were among the gainers. On the flip side, TCS, Airtel, HDFC, Tata Steel, HDFC Bank, NTPC emerged losers in early trade. Shares of ICICI Securities surged 7 per cent as private lender ICICI Bank will mull delisting of brokerage firm's shares.

In the broader market, Nifty Midcap 100 and Nifty Smallcap 100 indices sank up to 0.3 per cent.

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

Sectorwise, Nifty FMCG, Nifty Bank, and Nifty Auto indices rose up to 0.5 per cent. On the flipside, Nifty Media, Nifty Metal indices skid up to 0.4 per cent.

In the previous session on Friday, the S&P BSE Sensex dropped 260 points to 62,979, while the NSE Nifty50, fell 105 points to 18,665.

"Intra-day, the market may witness a choppy ride as the recent interest rate hike by the BoE and the US Fed hinting at two more rate hikes this year coupled with mounting Chinese growth fears point towards a challenging environment for the global economic recovery path," Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, said.

In Asian markets, Seoul quoted in the green while Tokyo, Shanghai, and Hong Kong traded lower. The US markets ended in the negative territory on Friday.

Global oil benchmark Brent crude climbed 0.05 per cent to $73.89 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 344.81 crore on Friday, according to exchange data.

Meanwhile, the rupee traded almost flat at 81.95 against the US currency in the opening trade on Monday amid gains in local stocks and losses in the dollar against major rivals in global markets. The domestic currency opened lower by 4 paise at 82.00 against the dollar at the interbank foreign exchange market.

The currency moved in a narrow range before trading at 81.95 against the greenback, appreciating just 1 paisa compared to the closing level of 81.96 on Friday.

The dollar index, which gauges the greenback's strength against a basket of six currencies, eased 0.16 per cent to 102.73. Crude oil price benchmark Brent crude was up 0.19 per cent to $73.99 per barrel.