Share Market Today: Sensex Rises 100 Points; Nifty Around 24,600. IT Stocks Gain

Share Market Today: On the 30-share Sensex platform, HUL, Bajaj Finserv, SBI, TCS, Nestle, IndusInd Bank emerged early gainers

Share Market Today: In the broader markets, the BSE Midcap and Smallcap indices plunged up to 1.55 per cent, but were off lows to trade 0.7 per cent lower.

Source : PTI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Thursday pared their early losses and swung into the green posing a sharp intraday recovery. At 10.30 am, the BSE Sensex gained 115 points to 80,831. On the other hand, the NSE Nifty50 was trading at 24,637, rising 24 points.

Stock update

On the 30-share Sensex platform, HUL, Bajaj Finserv, SBI, TCS, Nestle, IndusInd Bank emerged early gainers. On the flip side, UltraCemco, Adani Ports, Tata Steel, Asian Paints, NTPC, Tata Motors were among the losers.

In the broader markets, the BSE Midcap and Smallcap indices plunged up to 1.55 per cent, but were off lows to trade 0.7 per cent lower.

Sectoral update

Sectorwise, Nifty IT advanced 0.4 per cent, Nifty Bank and FMCG rose 0.3 per cent, Nifty Financial Services gained 0.2 per cent.

Stock markets were closed on Wednesday on account of Muharram.

In the previous session on Tuesday, the BSE benchmark climbed 52 points to end at a new lifetime high of 80,716, while on the other hand, the NSE Nifty50 jumped 26 points to close at an all-time closing high of 24,613.

Global update

In Asian markets, Seoul, Tokyo, and Shanghai were trading lower, while Hong Kong quoted higher. The US markets ended mostly lower on Wednesday.

Global oil benchmark Brent crude climbed 0.35 per cent to $85.38 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,271.45 crore on Tuesday, according to exchange data.

Rupee trades flat

The rupee was trading in a narrow range against the US dollar in early trade on Thursday, tracking a weak trend in domestic equities and elevated crude oil prices. Forex traders said the USD/INR pair is expected to remain range-bound as the dollar demand from foreign investors and oil companies has been matched by the supply from the Reserve Bank of India (RBI).

At the interbank foreign exchange market, the local unit moved in a narrow range. It opened at 83.57 against the American currency and touched 83.55 in initial trade, registering a rise of 3 paise from its previous close.

On Tuesday, the rupee closed at 83.58 against the American currency. Forex, equity markets were closed on Wednesday on account of Muharram.