Share Market Today: Sensex Rises 100 Points; Nifty Near 25,400. IT, FMCG Down
Share Market Today: On the 30-share Sensex platform, NTPC, Axis Bank, M&M, Kotak Bank, Airtel, L&T, PowerGrid emerged gainers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Monday touched their fresh all-time highs tracking foreign fund inflows and rally in the US markets. At 11 am, the BSE Sensex gained 161 points to 83,052. On the other hand, the NSE Nifty was trading at 25,387, rising 31 points.
Stock update
On the 30-share Sensex platform, NTPC, Axis Bank, M&M, Kotak Bank, Airtel, L&T, PowerGrid emerged gainers. On the down side, Bajaj Finance, HUL, Bajaj Finserv, SBI, Tata Motors, Infosys were among the losers.
In the broader markets, the BSE Midcap and Smallcap indices are trading flat.
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Sectoral update
Sectorwise, except IT and FMCG all other indices are trading in the green.
In the previous session on Friday, the BSE benchmark Sensex dropped by 72 points to end at 82,890, while the NSE Nifty50 dipped 33 points to 25,356.
"Globally equity markets will be focused on the Fed rate action on Wednesday which is likely to influence the stock market trend in the near-term," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
In Asian markets, Shanghai and Hong Kong were trading lower. The US markets ended in positive territory on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,364.82 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 2,532.18 crore.
Global oil benchmark Brent crude traded 0.07 per cent higher at $71.66 a barrel.
Rupee rises 5 paise
The rupee appreciated by 5 paise to 83.87 against the US dollar in early trade on Monday supported by weakening of the American currency in the overseas market and significant foreign fund inflows. Forex traders said market participants are eagerly awaiting cues from the US Fed policy on Wednesday, with a rate cut all but certain. However, the magnitude of the cut remains uncertain.
At the interbank foreign exchange market, the local unit opened at 83.89, then inched further to touch 83.87, registering a rise of 5 paise from its previous close. On Friday, the local unit settled higher by 4 paise at 83.92 against the US dollar.
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