Stock Market Today: Sensex Rises 777 Points; Nifty Around 21,600 On Asian Cues. Banks Lead

Stock update: On the 30-share Sensex platform, PowerGrid, Kotak Bank, Axis Bank, Sun Pharma, L&T, ICICI Bank emerged early gainers. JSW Steel, Infosys, ITC, TechM, TCS, and Tata Steel were losers

In the broader market, the BSE Midcap and Smallcap indices advanced up to 0.7 per cent each.

Source : Getty

Sensex and Nifty opened with strong gains, tracking Asian cues, on Monday. The BSE Sensex jumped 777 points to 71,477. On the other hand, the NSE Nifty was trading at 21,590, up 238 points.

On the 30-share Sensex platform, PowerGrid, Kotak Bank, Axis Bank, Sun Pharma, L&T, ICICI Bank emerged early gainers. On the flip side, JSW Steel, Infosys, ITC, TechM, TCS, and Tata Steel were among losers.

About 2,084 shares advanced, 1059 shares declined, and 104 shares unchanged.

#ABPStockMarketWatch | Sensex and Nifty opened with strong gains, tracking Asian cues, on Monday

At 10:00 AM, #Sensex gained 732 points to open at 71,433, and #Nifty gained 224 points to open at 21,577

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

— ABP LIVE (@abplive) January 29, 2024

In the broader market, the BSE Midcap and Smallcap indices advanced up to 0.7 per cent each.

Sectorally, bank, capital goods, power, and realty gained 1-2 per cent each.

In the previous session on Friday, Sensex and Nifty, remained shut on account of Republic Day.

In Asia this morning, Hang Seng soared over 1.5 per cent. Kospi surged 1 per cent, while Nikkei added 0.8 per cent. Shanghai, Straits Times and Taiwan too were seen holding steady gains. The US markets had ended on a mixed note on Friday.

Global oil benchmark Brent crude climbed 0.51 per cent to $83.98 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,144.06 crore on Thursday, according to exchange data.

Meanwhile, the rupee depreciated 4 paise to 83.15 against the US dollar in the morning session on Monday, amid elevated crude oil prices and dollar demand from importers. Forex traders said the rupee is trading in a narrow range as the support from positive domestic equities was negated by foreign fund outflows.

At the interbank foreign exchange, the rupee opened at 83.14 against the dollar, then fell to 83.15, registering a decline of 4 paise from its previous close. On Thursday, the rupee rose 1 paisa in a range-bound trade to close at 83.11 against the US dollar. Forex market was closed on Friday on account of Republic Day.