Share Market Today: Sensex Rises 378 Points; Nifty Around 24700. FMCG Only Drag

Share market today: On the 30-share Sensex platform, Bajaj Finserv, IndusInd Bank, TechM, Bajaj Finance, Kotak Bank, Axis Bank were among the gainers

Share Market Today: In the broader markets, the BSE Midcap and Smallcap indices closed 0.98 per cent and 0.52 per cent higher, respectively.

Source : PTI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Tuesday closed in the green, tracking a strong rally in financial and information technology (IT) shares. The BSE Sensex index settled at 80,803 levels, up 378 points. On the other hand, the NSE Nifty50 ended at 24,699, risisng 126 points.

Stock update

On the 30-share Sensex platform, Bajaj Finserv, IndusInd Bank, TechM, Bajaj Finance, Kotak Bank, Axis Bank were among the gainers. On the down side, Airtel ITC, Adani Ports, JSW Steel, UltraCemco, Tata Motors emerged losers.

In the broader markets, the BSE Midcap and Smallcap indices closed 0.98 per cent and 0.52 per cent higher, respectively.

Sectoral update

Sectorally, Nifty PSU Bank index gained the most, adding 1.68 per cent on the NSE, followed by the Nifty Financial Services index rising 1.1 per cent while Nifty IT index jumping 0.81 per cent. FMCG sector is the sole loser.

In the previous session on Monday, the BSE Sensex closed at 80,425, down 12 points, while the NSE Nifty50 ended at 24,573, up 32 points.

"Much of the strength and rally at Dalal Street is in the backdrop of steady SIP flows by retail investors. Global factors will be keenly watched as local investors would be eyeing the July FOMC (Federal Open Market Committee) meeting minutes to be released on Wednesday," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.

Global update

In Asian markets, Seoul and Tokyo settled higher, while Shanghai and Hong Kong ended lower. European markets were trading with gains. The US markets ended in positive territory on Monday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,667.46 crore on Monday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth Rs 1,802.92 crore.

Global oil benchmark Brent crude dipped 0.72 per cent to $77.10 a barrel.

Rupee gains 8 paise

The Indian rupee stayed firm for the second straight session and settled 8 paise higher at 83.79 (provisional) against the US dollar on Tuesday, buoyed by positive domestic equity markets, weak American currency and lower crude oil prices. Forex traders said, foreign fund outflow, however, resisted a sharp rise in the local unit.

At the interbank foreign exchange, the rupee opened at 83.86 against the greenback and traded in the range of 83.76 to 83.88. The unit finally settled at 83.79 (provisional) against the dollar, registering a gain of 8 paise from its previous closing level. On Monday, the rupee settled 8 paise higher at 83.87 against the American currency.