Share Market Today: Sensex Rises 600 Points; Nifty Above 24200. All Sectors In Green
Share Market Today: On the 30-share Sensex platform, Adani Ports, Infosys, Maruti, UltraCemco, JSW Steel, PowerGrid were among the gainers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday opened in the green amid positive global cues, a day ahead of RBI MPC announcement. At 10.15 am, the BSE Sensex gained 566 points to 79,159. On the other hand, the NSE Nifty50 was trading at 24,202, up 210 points.
Stock update
On the 30-share Sensex platform, Adani Ports, Infosys, Maruti, UltraCemco, JSW Steel, PowerGrid were among the gainers. On the flip side, Asian Paints, Kotak Bank, IndusInd Bank, Airtel, Titan, and ICICI Bank were among the early losers.
In line with the benchmarks, the broader markets also showed strength, with the Midcap index jumping 1.37 per cent while the Smallcap index advancing 1.01 per cent.
Sectoral update
Sectorwise, all indices were trading in green, with Nifty Realty, Nifty Metal, Nifty Media, and Nifty IT leading from the front.
In the previous session on Tuesday, the BSE Sensex ended at 78,593, declining 166 points, while the NSE Nifty50 closed 63 points down at 23,992.
"After the twin jolts from US recession fears and the unwinding of the Yen carry trade, stock markets globally are slowly limping back to stability. Even though FIIs were big sellers in India in the cash market during the last three days, their selling is being matched by DII (Domestic Institutional Investors) buying. This countervailing investment by DIIs can impart resilience to the market," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
Asian markets were also trading in the positive territory, where Seoul, Tokyo, Shanghai and Hong Kong were quoting significantly higher. The US markets ended higher on Tuesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,531.24 crore on Tuesday, according to exchange data.
DIIs bought equities worth Rs 3,357.45 crore on Tuesday.
Global oil benchmark Brent crude climbed 0.14 per cent to $76.59 a barrel.
Rupee trades in narrow range
Rupee traded in a narrow range in morning trade on Wednesday, as the support from positive domestic equities was negated by strengthening of the American currency in the overseas market. At the interbank foreign exchange market, the local unit opened at 83.86 but soon pared the gains to trade at 83.92, unchanged from its previous close.
On Tuesday, the rupee recovered from its all-time low level and settled for the day 17 paise higher at 83.92 against the US dollar. The local unit had slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on Monday.
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