Share Market Today: Sensex Rises 364 Points; Nifty Settles Above 24,450. Banking Stocks Gain

Share Market Today: On the 30-share Sensex platform, SBI, ICICI Bank, Bajaj Finserv, NTPC, Bajaj Finance, Adani Ports emerged gainers

Share Market Today: In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices closed higher by 0.92 and 0.76 per cent, respectively.

Source : PTI

Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday erased their morning losses closing higher. The BSE Sensex gained 364 points to end at 80,369. On the other hand, the NSE Nifty50 closed at 24,467, rising 128 points.

Stock update

On the 30-share Sensex platform, SBI, ICICI Bank, Bajaj Finserv, NTPC, Bajaj Finance, Adani Ports emerged gainers. On the flip side, Maruti, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank, Infosys were among the losers.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices closed higher by 0.92 and 0.76 per cent, respectively.

Sectoral update

Sectorally, banking and financial services stocks took the lead. The Nifty PSU Bank index rose by 3.64 per cent, followed by Bank Nifty at 2.07 per cent and Nifty Private Bank at 1.53 per cent. The Nifty Financial Services index also closed higher, up 2.08 per cent. Meanwhile, indices for Auto, Pharma, IT, FMCG, and Healthcare stocks closed in the red on Tuesday.

In the previous session on Monday, the BSE Sensex gained 603 points to close at 80,005. On the other hand, the NSE Nifty50 settled at 24,339 rising 158 points.

Rupee closes flat

The rupee settled flat at 84.07 (provisional) against the US dollar on Tuesday, as the support from positive domestic markets and a softening crude oil prices was negated by persistent foreign fund outflows. Forex traders said the rupee is hovering around record low levels as the strong dollar weighed on the local unit, while positive domestic equities, weak crude oil prices and suspected intervention by the Reserve Bank of India (RBI) supported the local currency at lower levels.

At the interbank foreign exchange, the rupee opened at 84.08 against the greenback. It traded in a tight range and ended the day at 84.07 (provisional), unchanged from its previous close. On Monday, the rupee settled 1 paisa higher at 84.07 against the US dollar. The local currency touched its lowest closing level of 84.10 against the dollar on October 11.