Stock Market Today: Sensex Rises 349 Points; Nifty Around 22,200 Amid Volatility. Banks, Power Shine

Stock update: On the 30-share Sensex platform, PowerGrid, HDFC Bank, Axis Bank, NTPC, Kotak Bank, IndusInd Bank emerged gainers. TCS, Bajaj Finserv, JSW Steel, Infosys, HCLTech, ITC were among losers

In the broader markets, the BSE Midcap and Smallcap indices ended with marginal losses.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Tuesday ended higher amid volatility. After oscillating between gains and losses in the early part of the trading session, the S&P BSE Sensex finally closed at 73,057, up 349 points. On the other hand, the NSE Nifty50 shut shop at record closing high of 22,197, up 75 points. The index hit record high of 22,216 in intraday trade.

On the 30-share Sensex platform, PowerGrid, HDFC Bank, Axis Bank, NTPC, Kotak Bank, IndusInd Bank emerged gainers. On the down side, TCS, Bajaj Finserv, JSW Steel, Infosys, HCLTech, ITC were among the losers.

#ABPStockMarketWatch | Sensex and Nifty scaled fresh highs on the sixth straight day amid volatility, on Tuesday

At 04:00 PM, #Sensex gained 349 points to 73,057 & #Nifty gained 75 points to close at 22,197

Here's a look at the stocks in focus:#ABPLive #ClosingBell… pic.twitter.com/QUhpelm6I1

— ABP LIVE (@abplive) February 20, 2024

In the broader markets, the BSE Midcap and Smallcap indices ended with marginal losses.

Sectorally, banks, media, power, and realty gained 0.8-2 per cent each, while auto, IT, metal stocks declined 1 per cent each.

In the previous session on Monday, the BSE Sensex closed 282 points higher at 72,708, while the NSE Nifty50 hit a new high of 22,122, up 82 points.

Asian shares traded mixed on Tuesday. Hong Kong's Hang Seng gained 0.2 per cent while the Shanghai Composite rose 0.4 per cent. Japan's benchmark Nikkei 225 closed 0.1 per cent lower.

Foreign Portfolio Investors (FPIs) were net sellers as they offloaded shares worth Rs 754.59 crore, according to exchange data.

Brent crude futures, the global oil benchmark, declined 0.59 per cent to $83.07 per barrel.

Meanwhile, the rupee gained 6 paise to settle at 82.95 (provisional) against the US dollar on Tuesday, amid robust equity market sentiment and a weak American currency. Forex traders said, sustained outflow of foreign funds capped a sharp gain in the domestic currency.

At the interbank foreign exchange market, the local unit opened at 83.02 and touched the intraday high of 82.91 against the greenback. The local unit finally settled at 82.95 (provisional) against the dollar, registering a gain of 6 paise from its previous close. On Friday, the rupee settled 4 paise higher at 83.01 against the US dollar.