Share Market Today: Sensex Rises 239 Points; Nifty Above 23,500. Metals, PSU Banks Drag
Share Market Today: On the 30-share Sensex platform, M&M, TechM, HDFC Bank, Sun Pharma, Tata Motors, Titan emerged gainers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday closed in the green after a seven-day losing run. The BSE Sensex gained 239 points to end at 77,578. On the other hand, the NSE Nifty50 closed higher at 23,518, rising 65 points.
Stock update
On the 30-share Sensex platform, M&M, TechM, HDFC Bank, Sun Pharma, Tata Motors, Titan emerged gainers. On the down side, Reliance, SBI, Tata Steel, Bajaj Finserv, Maruti, and L&T settled in the red.
In the broader markets, Nifty Smallcap100 and Nifty Midcap100 indices jumped 0.97 per cent and 0.93 per cent, respectively.
Sectoral update
All sectoral indices closed in the green on Tuesday, except for Nifty Metal, PSU Bank, and OMCs. The Nifty Media Index led the rally, climbing 2.45 per cent. Nifty Auto, Pharma, Realty, and Consumer Durables also posted strong gains, each rising over 1 per cent, while the Nifty IT Index advanced 0.83 per cent.
In the previous session on Monday, the BSE Sensex shed 241 points to end at 77,339, while the NSE Nifty50 settled at 23,453, down 79 points.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,403.40 crore on Monday, while Domestic Institutional Investors (DIIs) bought shares worth Rs 2,330.56 crore, according to exchange data.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled higher. European markets were trading lower. The US markets ended mostly higher on Monday.
Global oil benchmark Brent crude dipped 0.25 per cent to $73.12 a barrel.
Rupee rises 1 paisa
The rupee traded in an almost flat note and settled 1 paisa lower at 84.43 (provisional) against the US dollar on Tuesday, as support from positive domestic equity markets and lower crude oil prices was negated by strength of the American currency in the overseas market.
Forex traders said the Ukraine-Russia war took a new turn with Russia updating its nuclear doctrine and Ukraine aimed American missiles at Russia. Safe haven assets like Gold, JPY and CHF and to some extent dollar were bought and rupee felt the heat and was sold at the closing hours.
At the interbank foreign exchange, the rupee opened at 84.39 and stayed range-bound throughout the session. It finally settled at 84.43 (provisional) against the greenback, down 1 paisa from its previous close. On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar.
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