Stock Market: Sensex Jumps 410 Points To Reclaim 60K, Nifty Ends Above 17,700. PSU Bank Gains 2.6 Per Cent

Stock update: On the 30-share Sensex platform, Wipro, Titan, ICICI Bank, Axis Bank, SBI, UltraCemco, HDFC twins were among the lead gainers

In the broader markets, the BSE Midcap and Smallcap indices settled with gains of up to 0.47 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Monday gained momentum during the fag-end of the session as investors turned to financial sector stocks, especially those of public sector banks. The S&P BSE Sensex rallied 401 points (0.67 per cent) to end at 60,056. On the other hand, the Nifty50 surpassed the 17,700-mark to settle at 17,743, up 119 points.

On the 30-share Sensex platform, Wipro, Titan, ICICI Bank, Axis Bank, SBI, UltraCemco, HDFC twins were among the lead gainers. On the flip side, IndusInd Bank, Maruti, Sun Pharma, Airtel, M&M, Infosys were some of the losers.

#ABPLiveStockMarketWatch | Sensex jumps to reclaim 60K, Nifty ends above 17,700

At 03:30 PM, #Sensex gained 401 points & #Nifty went up 119 points.

Here's a look at the stocks in focus:#ClosingBell #ABPLive #MarketWatch pic.twitter.com/iVFzAIk7Tk

— ABP LIVE (@abplive) April 24, 2023

In the broader markets, the BSE Midcap and Smallcap indices settled with gains of up to 0.47 per cent.

Sectorally, the Nifty PSU Bank index advanced 2.6 per cent, followed by the Nifty Bank, Financial Services, Private Bank, and Realty indices, up 1 per cent each.

In the previous session on Friday, the BSE Sensex settled at 59,655, up 23 points, while the NSE Nifty 50 ended almost unmoved at 17,624.

"The positive market sentiment in the domestic market was boosted by strong earnings reported by heavyweights. However, the weak global sentiment did raise some concerns midway. But the banking sector played a key role in this upward trend, with sector majors reporting strong earnings," Vinod Nair, Head of Research at Geojit Financial Services, said.

Asian markets saw mixed trends. The Nikkei 225 gained 0.10 per cent, while the Shanghai Composite and Hang Seng fell 0.78 per cent and 0.58 per cent, respectively. European markets were lower with CAC in France sliding 0.17 per cent while London's FTSE 100 was off 0.08 per cent and Germany's DAX was lower by 0.06 per cent. The US markets ended on a mixed note on Friday.

Global oil benchmark Brent crude dipped 0.21 per cent to $81.49 per barrel.

Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 2,116.76 crore on Friday, according to exchange data.

Meanwhile, the rupee appreciated 15 paise to close at 81.91 (provisional) against the US dollar on Monday as a firm trend in domestic equities and easing crude oil price boosted investor sentiments. However, selling pressure from foreign institutional investors may weigh on the rupee at higher levels.

At the interbank foreign exchange market, the local unit opened at 82.08 against the US currency and finally closed at 81.91 (provisional) against the greenback, registering a gain of 15 paise over its previous close.

During the session, the rupee touched a high of 81.88 and a low of 82.09 against the dollar. The rupee on Friday settled at 82.06 against the US dollar.