Share Market Today: Sensex Rises Over 400 Points; Nifty Near 25K. Adani Ports Up 2%
Share Market Today: On the 30-share Sensex platform, Adani Ports, M&M, NTPC, UltraCemco, SBI, HDFC Bank emerged early gainers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday are trading in the green after opening on a muted note. At 10.40 am, the BSE Sensex jumped 423 points to 81,473. On the other hand, the NSE Nifty50 was trading at 24,923, rising 128 points.
Stock update
On the 30-share Sensex platform, Adani Ports, M&M, NTPC, UltraCemco, SBI, HDFC Bank emerged early gainers. On the down side, Tata Steel, JSW Steel, Tata Motors, TCS, Titan, Bajaj Finance were among the losers.
In the broader markets, Nifty Midcap 100 dropped 0.13 per cent, while the Nifty Smallcap 100 was trading flat.
Sectoral update
Meanwhile, the Metal index led the losses across sectors, falling by 2.80 per cent, with the Auto, IT, Pharma, PSU Bank, and Realty indices also trading in the red. In contrast, the Nifty Bank, Financial Services, FMCG, and Private Bank indices were trading higher.
In the previous session on Monday, the BSE Sensex plunged 638 points to end at 81,050, while the NSE Nifty50 dropped 219 points to settle at 24,796.
"Market has turned weak responding to negative cues from escalating geopolitical tensions in the Middle East, massive FPI selling and concerns surrounding the election results due on Monday," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
Global update
In Asian markets, Tokyo, Hong Kong, Seoul are trading lower, while Shanghai is quoting in the green. The US markets ended in the negative territory on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 8,293.41 crore on Monday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 13,245.12 crore, according to exchange data.
Global oil benchmark Brent Crude fell 1.42 per cent to $79.78 a barrel. On Monday, Brent Crude soared above $80 a barrel, its highest price since August.
Rupee gains 6 paise
The rupee rose 6 paise to 83.94 against the US dollar in early trade on Tuesday supported by a weaker greenback and lower crude oil price. However, volatility in the domestic equity markets and FII outflows capped sharp gains in the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 83.97 against the US dollar and rose to 83.92 before slipping marginally to 83.94, higher by 6 paise from its previous close. The domestic unit had settled at 84.00 on Monday.
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