Share Market Snaps Five-Day Losing Run: Sensex Jumps 603 Points; Nifty Above 24300
Share Market Today: On the 30-share Sensex platform, ICICI Bank, Adani Ports, JSW Steel, Tata Steel, M&M, Sun Pharma emerged gainers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Monday snapped their five-day losing run amid buying in ICICI Bank and firm global trends. The BSE Sensex gained 603 points to close at 80,005. On the other hand, the NSE Nifty50 settled at 24,339 rising 158 points.
Stock update
On the 30-share Sensex platform, ICICI Bank, Adani Ports, JSW Steel, Tata Steel, M&M, Sun Pharma emerged gainers. On the flip side, Axis Bank, Kotak Bank, TechM, HDFC Bank, Maruti, and Airtel were among the losers.
In the broader markets, the Nifty Smallcap 100 closed higher by 1.20 per cent while the Nifty Midcap 100 index settled higher by 0.83 per cent.
Sectoral update
All sector indices closed in the green, led by banking stocks. The Nifty PSU Bank index rose 3.78 per cent, followed by the Bank Nifty at 0.93 per cent and Nifty Private Bank at 0.27 per cent. Additionally, the Nifty Media, Pharma, Realty, and Healthcare indices each gained over 1 per cent.
In the previous session on Friday, the BSE Sensex lost 663 points to 79,402, while the NSE Nifty50 ended at 24,180.80, dropping 219 points.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled higher. European markets were trading in the positive territory. The US markets ended on a mixed note on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,036.75 crore on Friday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 4,159.29 crore, according to exchange data.
Global oil benchmark Brent crude eased 5.84 per cent to $71.54 a barrel.
Rupee rises 1 paisa
The rupee traded on a flat to positive note and settled 1 paisa higher at 84.07 (provisional) against the US dollar on Monday, on positive domestic markets and a sharp decline in crude oil prices. Forex traders said the rupee traded in a narrow range during the day as the strong dollar weighed on the local unit, while positive domestic equities, weak crude oil prices and suspected intervention by the RBI supported the local currency at lower levels.
At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. It traded in a tight range and ended the day at 84.07, registering a rise of 1 paisa over its previous close.
On Friday, the rupee edged lower by 1 paisa to settle near an all-time low at 84.08 against the US dollar. The local currency touched its lowest closing level of 84.10 against the dollar on October 11.
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