Share Market Today: The two key equity benchmarks, Sensex and Nifty, extended their winning streak to a third consecutive session on Tuesday, driven by robust buying in heavyweight stocks such as HDFC Bank, Reliance Industries, and positive cues from global markets. The BSE Sensex surged 598 points to close at 80,845, after touching an intraday high of 80,949, a gain of 701 points. Similarly, the NSE Nifty rose 181 points to end the session at 24,457.
Stock Update
Among the 30-share Sensex constituents, Adani Ports led the rally with a nearly 6 per cent gain. Other major gainers included NTPC, Axis Bank, State Bank of India, Larsen & Toubro, UltraTech Cement, Tata Motors, HDFC Bank, and Reliance Industries. On the flip side, Bharti Airtel, ITC, Sun Pharma, Asian Paints, and Kotak Mahindra Bank ended in the red.
Market breadth remained strong, with 2,647 stocks advancing against 1,190 declining, while 99 remained unchanged.
Sectoral Update
Sectorally, all indices except FMCG closed in the green. The Media and PSU Bank indices were the top performers, climbing more than 2 per cent each.
Global and Institutional Trends
Asian markets closed on a positive note, with indices in Seoul, Tokyo, Shanghai, and Hong Kong ending higher. European markets were trading in the green during the Indian session, while US markets closed mostly positive on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 238.28 crore on Monday, according to exchange data. In contrast, Domestic Institutional Investors (DIIs) made net purchases of Rs 3,588.66 crore.
In the commodities market, Brent crude oil, the global benchmark, rose 1.13 per cent to $72.64 per barrel.
The BSE Sensex had recovered early losses on Monday to settle 445 points higher at 80,248, while the NSE Nifty50 climbed 145 points to close at 24,276.
Rupee Recovers From All-Time Low
The rupee recovered from its all-time low level and settled for the day with gains of just 3 paise at 84.69 (provisional) against the US dollar in a range-bound trade on Tuesday, amid a positive trend in domestic equities. Forex traders said the rupee has been on a downtrend largely on the back of Donald Trump's rhetoric on BRICS currency, political instability in the Eurozone, weaker domestic macroeconomic indicators and unabated foreign portfolio outflows.
At the interbank foreign exchange, the rupee opened at 84.75 and moved in a narrow range and touched an intra-day high of 84.64 and an all-time low of 84.76 against the greenback. On Monday, the rupee depreciated 12 paise to close at an all-time low of 84.72 against the dollar.