Stock Market: Sensex Rises 200 Points, Nifty Trades Above 17,400 Amid Weak Global Cues

Stock update: Mahindra & Mahindra was the biggest gainer, rising more than 2 per cent, followed by IndusInd Bank, NTPC, Reliance Industries, HDFC Bank, and Maruti on the BSE

The broader markets on Monday were also trading in a tepid mood as Nifty Midcap 100 underperformed Nifty Smallcap 100 and lost 0.06 per cent in trade.

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After opening on a weak note, Sensex and Nifty, the two key equity benchmarks, on Monday, was trading in the green despite weak global sentiments.

At 10.30 am, the BSE Sensex benchmark rose 198 points to 58,586, while the broader NSE Nifty was trading at 17,443, up 46 points.

On the 30-share Sensex platform, Mahindra & Mahindra was the biggest gainer, rising more than 2 per cent, followed by IndusInd Bank, NTPC, Reliance Industries, HDFC Bank, and Maruti. On the flip side, State Bank of India, Infosys, Tata Consultancy Services, and ICICI Bank were among the major laggards.

The broader markets on Monday were also trading in a tepid mood as Nifty Midcap 100 underperformed Nifty Smallcap 100 and lost 0.06 per cent in trade.

 Sectorwise, Nifty Metal, Nifty Pharma, and Nifty Auto defied the overall market mood. However, Nifty PSU Bank and Nifty Realty were bogged down in trade.

In Asian markets, Tokyo and Shanghai were trading higher, while Seoul and Hong Kong quoted lower. The US markets had ended mostly lower on Friday.

In the previous session on Friday, the BSE benchmark ended 89 points (0.15 per cent) higher at 58,387, while the Nifty went up by 15 points or (0.09 per cent) to end at 17,397.

International oil benchmark Brent crude went higher by 0.21 per cent to $95.12 per barrel.

Foreign institutional investors remained net buyers in the capital markets as they bought shares worth Rs 1,605.81 crore on Friday, as per exchange data.   

Meanwhile, the rupee depreciated 22 paise to 79.46 against the US dollar in early trade on Monday, tracking subdued sentiment in the domestic equities. However, persistent foreign fund inflows into the capital market restricted the rupee's fall, forex traders said.

At the interbank foreign exchange, the rupee opened weak at 79.50 against the US dollar and then gained some ground to quote at 79.46 in initial deals, registering a decline of 22 paise over the last close.

The rupee rose 16 paise to close at 79.24 against the dollar in the previous session.