Share Market: Sensex Rises 445 Points; Nifty Ends Above 24,275. PSU Bank Drags
In the 30-share Sensex pack, UltraTech Cement, JSW Steel, Adani Ports, Tech Mahindra, Titan, Maruti, Mahindra & Mahindra, Tata Steel, and Reliance Industries led the gains
Share Market Today: Benchmark equity indices Sensex and Nifty ended Monday's trading session on a positive note, buoyed by buying interest in blue-chip stocks like Reliance Industries, Infosys, and HDFC Bank, as well as a firm trend in US markets.
The BSE Sensex recovered from early losses to close 445 points higher at 80,248. The index touched an intraday high of 80,338 and a low of 79,308. Similarly, the NSE Nifty50 climbed 145 points to settle at 24,276.
Top Gainers and Losers
In the 30-share Sensex pack, UltraTech Cement, JSW Steel, Adani Ports, Tech Mahindra, Titan, Maruti, Mahindra & Mahindra, Tata Steel, and Reliance Industries led the gains.
On the other hand, NTPC, Hindustan Unilever, Kotak Mahindra Bank, IndusInd Bank, and Larsen & Toubro were among the top losers.
Sectoral Update
Nifty Auto, IT, Metal, Pharma, and Realty sectors emerged as the top gainers, climbing 1-3 per cent. Realty led the pack with the highest gains. On the other hand, Nifty PSU Bank was the sole laggard, slipping 0.2 per cent.
Global Trends
Asian markets displayed a mixed trend, with Seoul closing lower while Tokyo, Shanghai, and Hong Kong ended in the green. European markets were trading mostly in the red, even as US markets closed higher on Friday, lending optimism to global sentiment.
Data showed that Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,383.55 crore on Friday, while Domestic Institutional Investors (DIIs) made net purchases of Rs 5,723.34 crore, indicating a shift in market dynamics.
India's economic growth decelerated to a near two-year low of 5.4 per cent in the July-September quarter, primarily due to weak performances in the manufacturing and mining sectors alongside subdued consumer demand. Despite the slowdown, India retained its status as the fastest-growing major economy globally.
Global oil benchmark Brent crude rose 0.85 per cent to $72.45 per barrel, reflecting ongoing volatility in the energy markets.
On Friday, the Sensex had jumped 759 points to settle at 79,802, while the Nifty gained 217 points to close at 24,131.
Rupee Down 13 paise
The rupee dropped 13 paise to close at an all-time low of 84.73 (provisional) against the US dollar on Monday, on disappointing macroeconomic data and broad strength of the American currency in the overseas markets. Forex traders said Asian currencies were down after Trump Rhetoric on BRICs currency, as the move may further strengthen the greenback.
At the interbank foreign exchange, the rupee opened at 84.59 and touched the lowest level of 84.73 against the greenback during intra-day trade. The unit ended the session at an all-time low of 84.73 (provisional) against the dollar, registering a fall of 13 paise over its previous close. On Friday, the rupee plunged 13 paise to settle at a fresh all-time low of 84.60 against the US dollar.
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