Stock Market: Sensex Rises 330 Points; Nifty Closes Around 19,150. RIL Gains 2 Per Cent; Realty Shines

Stock update: On the 30-share Sensex platform, UltraCemco, Reliance, ICICI Bank, Airtel, HDFC Bank, and IndusInd Bank, Kotak Bank emerged gainers

The two key equity benchmarks, Sensex and Nifty, on Monday rebounded and closed in the green after the bulls came back in action. The S&P BSE Sensex soared 330 points to settle at 64,113. The indices hit intraday low of 63,431. On the other hand, the NSE Nifty50 ended at 19,141, up 94 points. The benchmark hit a low of 18,927.

On the 30-share Sensex platform, UltraCemco, Reliance, ICICI Bank, Airtel, HDFC Bank, and IndusInd Bank, Kotak Bank emerged gainers. On the downside, Tata Motors, Maruti, Axis Bank, M&M, ITC, NTPC were among losers. Among specific stocks, BPCL gained 3.6 per cent, Ultratech Cement 2 per cent, while Reliance Industries 1.8 per cent.

In the broader market, the BSE Midcap and SmallCap indices logged gains with 0.13 per cent and 0.06 per cent, respectively.

Sectorwise, except auto and FMCG, all other sectoral indices ended in the green. Nifty Realty gained 2 per cent, followed by the Nifty Bank, and Financial Services indices up 0.7 per cent each. Nifty Auto index declined 0.9 per cent ahead of the October auto sales.

In the previous session on Friday, the S&P BSE Sensex surged 635 points to end at 63,783, while the Nifty50 closed at 19,047, up 190 points.

"The domestic market mirrored the upbeat European and Asian markets, as geopolitical risk in West Asia continues. Equities are experiencing a short-term bounce after the heavy selling last week, as crude moderates and Q2 results provide some relief. But a full containment will depend on a radical fall in geopolitical risk and global bond yield," said Vinod Nair, Head of Research at Geojit Financial Services.

In Asia, Seoul, Shanghai, and Hong Kong ended in the positive zone, while Tokyo settled in the negative territory. On the other hand, European markets were trading with gains, while the US markets closed mostly lower on Friday.

Global oil benchmark Brent crude declined 1.55 per cent to $89.18 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,500.13 crore on Friday, according to exchange data. The FPIs have pulled out over Rs 20,300 crore from Indian equities this month so far, primarily due to a sharp surge in the US treasury yield and ongoing conflicts between Israel and Hamas.

Meanwhile, the Indian rupee settled flat at 83.25 (provisional) against the US dollar on Monday, as sustained foreign fund outflows and the strength of the American currency in the overseas market weighed on investor sentiments. Forex traders said the Indian rupee traded on a flat note with a slight negative bias on strong US dollar and selling pressure from foreign funds.

At the interbank foreign exchange, in a range-bound trade the rupee opened at 83.25 and finally settled at the same level against the American currency, even as the domestic equity market made a smart recovery and ended the day on a positive note. During the day, the rupee witnessed an intra-day high of 83.24 and a low of 83.27 against the greenback.