Stock Market: Sensex Zooms 710 Points, Nifty Ends Above 18,250 On Global Cues. IndusInd Bank, Tata Motors Shine

Stock update: On the 30-share Sensex platform, IndusInd Bank (4.92 per cent), Tata Motors (4.82 per cent), Bajaj twins, NTPC, HCL were among the lead gainers

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.94 per cent and 0.56 per cent, respectively.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green riding on the global momentum, with the benchmark indices soaring 1.2 per cent. The traders said that continuous foreign fund inflows further bolstered sentiment.

The BSE Sensex ended at 61,764, up 710 points. On the other hand, the NSE Nifty50 climbed 195 points to 18,264.

On the 30-share Sensex platform, barring Sun Pharma, L&T, and Nestle, all the scrips closed in the positive zone. IndusInd Bank (4.92 per cent), Tata Motors (4.82 per cent), Bajaj twins, NTPC, HCL were among the lead gainers.

#ABPLiveStockMarketWatch | Sensex and Nifty on Monday closed higher, riding on the global momentum

At 03:30 PM, #Sensex gained 710 points to 61,764 & #Nifty went up 195 points to close at 18,264

Here's a look at the stocks in focus:#ClosingBell #ABPLive #MarketWatch pic.twitter.com/V8JhwdOYle

— ABP LIVE (@abplive) May 8, 2023

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.94 per cent and 0.56 per cent, respectively.

Among sectors, the Nifty Private Bank, Realty, and Auto indices gained around 1.7 per cent each. The Nifty PSU Bank index was the only loser, down 0.78 per cent.

The FMCG index has risen 10 per cent since the start of the current year, with ITC, Nestle India, Radico Khaitan, and Varun Beverages zoomed 31 per cent, 12 per cent, 11 per cent and 10 per cent each.

In the previous session on Friday, the S&P BSE Sensex tanked to a low of 61,002 towards the fag end of the trading session, while finally closed with a significant loss of 695 points at 61,054. On the other hand, the Nifty 50 lost 187 points at 18,069.

In Asian markets, Seoul, Shanghai, and Hong Kong ended with gains, while Tokyo settled lower. Markets in Europe were trading in the green. The US markets ended with significant gains on Friday.

Foreign Institutional Investors (FIIs) were net buyers on Friday as they bought equities worth Rs 777.68 crore, according to exchange data.

Global oil benchmark Brent crude climbed 1.79 per cent to $76.65 per barrel.

Meanwhile, the rupee pared initial gains to settle lower by 2 paise at 81.80 (provisional) against the US dollar on Monday, tracking a recovery in crude oil prices. Forex traders said the rupee consolidated in a narrow range as the gains from weak American currency and positive domestic equities were negated by a recovery in crude oil prices.

At the interbank foreign exchange, the local unit opened on a positive note at 81.76 but pared early gains to settle 2 paise lower at 81.80 against the US dollar despite a firm trend in domestic equities. During the day, the rupee touched a high of 81.70 and a low of 81.82 against the American currency.