Share Market Today: Sensex Rises 91 Points; Nifty Near 25450 On Fed's Rate Cut Hopes

Share Market Today: On the 30-share Sensex platform, Bharti Airtel, NTPC, M&M, Titan, L&T, Kotak Bank emerged gainers

Share market today: The Nifty Smallcap 100 index snapped its three-day winning streak to close at 19,465, down 0.40 per cent, while the NSE Nifty Midcap 100 index fell 0.19 per cent at 60,181.

Source : PTI

Share market today: The two key equity benchmark indices, Sensex and Nifty, closed in the green tracking firm global trends ahead of the much-awaited US Fed's decision on interest rates. The 30-share Sensex gained 91 points to 83,079. On the other hand, the NSE Nifty50 closed at 25418, rising 35 points.

Stock update

On the 30-share Sensex platform, Bharti Airtel, NTPC, M&M, Titan, L&T, Kotak Bank emerged gainers. On the down side, Tata Motors, Adani Ports, JSW Steel, ITC, Tata Steel Asian Paints were among the losers.

In the broader markets, the Nifty Smallcap 100 index snapped its three-day winning streak to close at 19,465, down 0.40 per cent, while the NSE Nifty Midcap 100 index fell 0.19 per cent at 60,181.

Sectoral update

Sectorwise, the Nifty Realty index emerged as the top sectoral gainer, while the Nifty PSU Bank index was the biggest loser, weighed down by PNB and IOB. Meanwhile, the Nifty IT, FMCG, Financial Services, Private Bank, Auto, and OMCs indices managed to close higher on Tuesday.

In the previous session on Monday, the BSE benchmark rose 98 points to settle at a new record peak of 82,988, while the Nifty50 gained 27 points to close at 25,384.

"The Indian market exhibited a subtle positive momentum, driven by the anticipation of a rate cut cycle by the US FED. Although a 25-bps cut is largely factored in, the market remains attuned to the FED's comments on the health of the economy and the future trajectory of rate cuts," said Vinod Nair, Head of Research, Geojit Financial Services.

Wholesale inflation fell for the second consecutive month to 1.31 per cent in August due to cheaper vegetables, food and fuel, government data released on Tuesday showed.

Global update

In Asian markets, Hong Kong settled with gains while Tokyo ended lower. Markets in mainland China and South Korea were closed. European markets were trading in positive territory. The US markets ended mostly higher on Monday.

Foreign institutional investors offloaded equities worth Rs 1,634.98 crore on Monday, according to exchange data.

Global oil benchmark Brent crude dipped 0.25 per cent to $72.52 a barrel.