Share market today: The two key equity benchmark indices, Sensex and Nifty, on Monday closed the volatile session in the green. The 30-share Sensex added 98 points at 82,989. On the other hand, the NSE Nifty50 settled at 25,384, up 27 points.
Stock update
On the 30-share Sensex platform, NTPC, JSW Steel, L&T, Axis Bank, ICICI Bank, Nestle emerged gainers. On the flip side, Bajaj Finance, HUL, Bajaj Finserv, Adani Ports, Titan, UltraCemco were among the losers.
Bajaj Housing Finance Listing
Meanwhile, Bajaj Housing Finance shares skyrocketed by 135.7 per cent from the IPO issue price of Rs 70, reaching the upper circuit at Rs 135.7 on the BSE. The stock debuted at a 114.28 per cent premium, opening at Rs 150 on the BSE on Monday.
In the broader market, Nifty Midcap100 index scaled an all-time high of 60,408 before settling with a gain of 0.38 per cent at a record high close of 60,259. Nifty Smallcap100 index ended the week’s first trading session with gains of 0.16 per cent.
Sectoral update
Sectorally, media, metal, financial services, Bank Nifty, and private banks settled higher with gains of up to 1 per cent, while IT, FMCG, select financial services ended lower by up to 0.72 per cent.
"Globally equity markets will be focused on the Fed rate action on Wednesday, which is likely to influence the stock market trend in the near-term," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
In the previous session on Friday, the BSE benchmark Sensex dropped by 72 points to end at 82,890, while the NSE Nifty50 dipped 33 points to 25,356.
Global update
In Asian markets, Hong Kong ended with gains. Markets in Japan, mainland China, and South Korea were closed for holidays. European markets were trading mostly higher. The US markets ended in positive territory on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 2,364.82 crore on Friday, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 2,532.18 crore.
Global oil benchmark Brent crude climbed 0.35 per cent to $71.90 a barrel.
Rupee gains 4 paise
The rupee witnessed range-bound trade and settled for the day higher by 4 paise at 83.88 (provisional) against the US dollar on Monday supported by weak American currency and significant foreign fund inflows, while firm crude oil prices capped sharp gains.
Forex traders said market participants are eagerly awaiting cues from the US Fed policy on Wednesday, with a rate cut all but certain.
At the interbank foreign exchange market, the local unit opened at 83.89 and witnessed an intraday high of 83.87 and a low of 83.90 against the American currency.
The domestic unit finally settled for the day at 83.88 (provisional), higher by 4 paise over its previous close, amid a positive trend in domestic equities. On Friday, the local unit settled higher by 4 paise at 83.92 against the US dollar.