Share Market Today: Sensex Gains 585 Points; Nifty Above 25K Ahead Of Tomorrow's RBI MPC
Share Market Today: On the 30-share Sensex platform, Adani Ports became the main gainer, up 4.76 per cent. M&M, Reliance, HDFC Bank, L&T, SBI emerged other gainers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday snapped their 5-day losing run ending higher amid Haryana election results and ahead of RBI MPC scheduled for tomorrow (Wednesday). The BSE Sensex gained 585 points to settle at 81,634. On the other hand, the NSE Nifty50 ended at 25,013, rising 217 points.
Stock update
On the 30-share Sensex platform, Adani Ports became the main gainer, up 4.76 per cent. M&M, Reliance, HDFC Bank, L&T, SBI emerged other gainers. On the flip side, Tata Steel, Titan, Bajaj Finserv, JSW Steel, Bajaj Finance, Tata Motors were the losers.
In the broader markets, the BSE Midcap index jumped 1.86 per cent while the BSE Smallcap index advanced 2.44 per cent. The broader indices outperformed the benchmark indices today.
Sectoral update
Meanwhile, across sectors, all indices rallied in today's trade except for the Nifty Metal index. The Nifty Media index surged over 3 per cent, while the Nifty Auto rose by 1.84 per cent, and the Nifty Pharma gained 1.5 per cent.
In the previous session on Monday, the BSE Sensex plunged 638 points to end at 81,050, while the NSE Nifty50 dropped 219 points to settle at 24,796.
Global update
European markets were trading lower in mid-session deals. The US markets ended in negative territory on Monday. In Asian markets, Tokyo, Hong Kong and Seoul settled lower, while Shanghai ended on a positive note.
Global oil benchmark Brent crude declined 1.84 per cent to $79.44 a barrel.
Rupee rises 4 paise
The rupee rose 4 paise to close at 83.96 (provisional) against the US dollar on Tuesday, tracking a recovery in the domestic equity markets after six consecutive sessions of free fall.
A weakening dollar against international currencies further boosted the domestic unit, forex traders said, but added that a rise in crude oil prices and increased foreign fund outflows capped sharper gains. Some experts said the markets rebounded following the BJP's victory in the Haryana assembly elections, which in turn helped the rupee.
At the interbank foreign exchange, the rupee opened at 83.97 against the greenback and traded in the range of 83.92-83.97 during the day. It settled at 83.96 (provisional) against the US dollar, 4 paise higher than its Monday's close of 84.00.
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