Share Market Today: Sensex Rises 210 Points; Nifty Near 25,900. Pharma Stocks Gain
Share market today: On the 30-share Sensex platform, SBI, M&M, Airtel, UltraCemco, NTPC, Kotak Bank emerged gainers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Monday are trading in the green tracking robust foreign fund inflows and rally in Asian markets. In early morning trade, the two indices scaled their new record high levels. At 11 am, the BSE Sensex gained 210 points to 84,755. On the other hand, NSE Nifty50 was trading at 25,888, rising 97 points.
Stock update
On the 30-share Sensex platform, SBI, M&M, Airtel, UltraCemco, NTPC, Kotak Bank emerged gainers. On the down side, ICICI Bank, HCLTech, Infosys, TechM, IndusInd Bank, Asian Paints were among the losers.
In the broader market, the BSE Smallcap jumped 0.58 per cent while the BSE Midcap advanced 0.16 per cent.
Sectoral update
Sectorwise, Pharma was the top gainer, rising 1.02 per cent. Nifty Auto gained 0.87 per cent and Nifty Realty advanced 0.85 per cent.
"The charging bull got a shot of steroids from the Fed when it cut interest rates by 50 bps on September 18th. More than the rate cut, it was the Fed chief's optimistic commentary that lifted the markets sharply," V K Vijayakumar, chief investment strategist, Geojit Financial Services, said.
Global update
In Asian markets, Seoul, Shanghai and Hong Kong were trading higher. While markets in Japan were closed on Monday for a public holiday, Australia’s S&P/ASX 200 opened 0.43 per cent higher. The US markets ended on a mixed note on Friday.
Global oil benchmark Brent crude climbed 0.75 per cent to $75.05 a barrel.
In the previous session on Friday, the Sensex gained 1,360 points to close at 84,544, while the Nifty 50 hit gained 375 points to 25,791.
Rupee gains 6 paise
The rupee entered its third week of rally and appreciated 6 paise to 83.46 against the US dollar in early trade on Monday, tracking positive momentum in domestic equity markets amid a massive inflow of foreign funds. However, an upward movement in the crude oil prices and a strengthening greenback against major overseas rivals capped a sharp rise in the Indian currency, forex traders said.
At the interbank foreign exchange market, the Indian currency opened at 83.44 and fell to 83.49 before trading again at 84.46 against the greenback, registering a gain of 6 paise higher than its previous closing level. The local unit gained 13 paise to settle at 83.52 against the US dollar on Friday.
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