Share Market Today: Sensex Gains 200 Points; Nifty Around 25,000 On Global Rally
Share market today: On the 30-share Sensex platform, PowerGrid, Infosys, Axis Bank, NTPC, HCLTech, Nestle emerged gainers. Bajaj twins, M&M, HUL, SBI, ICICI Bank were among the early losers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday are trading higher tracking a rally in global markets and fresh foreign fund inflows. At 11:35 am, the 30-share BSE Sensex gained 198 points to 81,758. On the other hand, the NSE Nifty50 was trading at 24,986, rising 49 points.
Stock update
On the 30-share Sensex platform, PowerGrid, Infosys, Axis Bank, NTPC, HCLTech, Nestle emerged gainers. On the down side, Bajaj twins, M&M, HUL, SBI, ICICI Bank were among the early losers.
In the broader markets, BSE Midcap index advanced 0.5 per cent while Smallcap index rose 1 per cent.
Sectoral update
Sectorwise, IT, Pharma, and Health stocks are trading in the green.
"With an overnight rebound on Wall Street, strong net buying from both FIIs and DIIs, and sluggish oil prices, bullish traders are expected to pursue bargains," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Global update
In Asian markets, Seoul, Tokyo, and Hong Kong were trading higher, while Shanghai quoted lower. Hong Kong's Hang Seng index futures were at 17,216, higher than the HSI’s last close of 17,196.96.
The US markets ended significantly higher on Monday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,176.55 crore on Monday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 1,757.02 crore.
Global oil benchmark Brent crude dipped 0.08 per cent to $71.78 a barrel.
Rupee slips 3 paise
The rupee traded in a narrow range on Tuesday and depreciated 3 paise to 83.98 against the American currency, amid a muted trend in domestic equities. Forex traders said foreign institutional inflows, alongside significant corrections in asset classes like the Dollar Index and crude oil prices supported the rupee, while the Reserve Bank's active intervention kept the rupee in a tight range.
At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.95 against the American currency and touched 83.98 in initial trade, registering a fall of 3 paise over its previous close. On Monday, the rupee traded in a narrow range and closed flat at 83.95 against the American currency.
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