Share Market Today: Sensex Up 200 Points; Nifty Above 22,650. Kotak Bank Slips 3.5 Per Cent

Share Market Today: On the 30-share Sensex platform, PowerGrid, M&M, Asian Paints, Sun Pharma, NTPC, Tata Motors emerged gainers

Share Market Today: In the broader markets, the BSE Midcap and Smallcap indices advanced 0.61 and 0.44 per cent, respectively. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, on Thursday opened in the green. 10.05 am, the BSE Sensex jumped 206 points to 74,688. On the other hand, the NSE Nifty50 was trading at 22,652, up 47 points.

Stock update

On the 30-share Sensex platform, PowerGrid, M&M, Asian Paints, Sun Pharma, NTPC, Tata Motors emerged gainers. On the down side, Kotak Bank dropped 3.56 per cent, followed by Maruti, Wipro, Airtel, ICICI Bank, HCLTech.

About 1722 shares advanced, 642 shares declined, and 157 shares unchanged.

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.61 and 0.44 per cent, respectively.

Sectoral update

Sectorwise, Nifty Financial Services, Nifty Pharma, Nifty FMCG and Nifty Consumer Durables are leading on the NSE.

In the previous session on Tuesday, the BSE Sensex closed at 74,482, down 189 points, while the NSE Nifty50 ended 39 points lower at 22,605. Sensex and Nifty were closed on Thursday on occasion of Maharashtra Day.

"The domestic cues are strongly positive. The GST collection for April setting a record of Rs 2.1 trillion indicates a booming economy," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global markets update

In Asian markets, Tokyo and Hong Kong saw gains, while Seoul and Shanghai experienced declines. Wall Street closed with mixed results on Wednesday.

Brent crude oil, the global benchmark, increased by 0.53% to reach $83.88 per barrel.

Foreign Institutional Investors (FIIs) made equity purchases totaling Rs 1,071.93 crore on Tuesday, as reported by exchange data.

Rupee turns flat

On Thursday, the rupee remained stable at 83.43 against the US dollar in early trading, facing pressure from a stronger dollar after the US central bank maintained steady interest rates.

Currency traders noted that the rise in crude oil prices put pressure on the Indian rupee. Nonetheless, the rupee received some support from positive sentiment in the domestic equity market and foreign capital inflows.

At the interbank foreign exchange, the rupee opened stronger at 83.41 but soon slipped back to its prior closing level of 83.43 against the dollar.

The rupee ended 2 paise higher at 83.43 against the dollar on Tuesday, following a 7 paise decline on Monday. The foreign exchange market was closed on Wednesday in observance of Maharashtra Day.