Share Market Today: Sensex Rises 376 Points; Nifty Around 24950. FMCG Gains; HUL Jumps 3%
Share market today: On the 30-share Sensex platform, HUL, ICICI Bank, ITC, Kotak Bank, IndusInd Bank, Axis Bank emerged gainers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Monday rebounded sharply and closed in the green amid weak sentiments from the Asian markets. The 30-share BSE Sensex, which had opened lower at 80,973, touched a high of 81,653. The index gained 375 points to 81,560. On the other hand, the NSE Nifty50 settled 24,936, rising 84 points. The Nifty50 opened lower at 24,823 while it touched a high of 24,957 during intraday trade.
Stock update
On the 30-share Sensex platform, HUL, ICICI Bank, ITC, Kotak Bank, IndusInd Bank, Axis Bank emerged gainers. On the down side, TechM, NTPC, Tata Steel, Tata Motors, PowerGrid, Titan were among the losers.
In the broader markets, with the BSE Smallcap fell 0.65 per cent while the BSE Midcap dropped 0.2 per cent.
Sectoral update
Sectorwise, FMCG and Bank indices gained 1 per cent each, while Capital Goods, IT, Metal, Telecom, Media, Oil & Gas, Power, and Realty sectors declined by 0.3 per cent to 1 per cent.
In the previous session on Friday, the BSE Sensex plunged 1,017 points to 81,184, while the NSE Nifty 50 settled at 24,852, dropping 293 points.
"Despite a negative opening amidst weak global cues, the domestic market exhibited some recovery from last week's steep fall. The market is currently attempting to gain stability between potential rate cuts and recession fears in the US," Vinod Nair, Head of Research, Geojit Financial Services said.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled lower. European markets were trading higher. The US markets ended significantly lower on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 620.95 crore on Friday, according to exchange data.
Global oil benchmark Brent crude climbed 1.13 per cent to $71.84 a barrel.
Rupee dips 1 paise
The rupee traded in a narrow range and slipped 1 paisa to close at 83.96 against the American currency on Monday, as the support from a positive trend in equity markets was offset by a strong US dollar against major crosses overseas. At the interbank foreign exchange market, the local unit opened at 83.96 against the American currency. It rose to the intra-day high of 83.86 but pared gains to finally settle at 83.96 against the US dollar, down 1 paisa from its previous close. On Friday, the rupee gained 2 paise to close at 83.95 against the US dollar.
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