The two key equity benchmarks, Sensex and Nifty, on Monday, while extending its rally to the fourth straight session, closed marginally higher amid volatility as investors remained nervous throughout the day. The S&P BSE Sensex closed 66 points higher at 73,872. On the other hand, the NSE Nifty50 was ended at 22,406, up 27 points.
On the 30-share Sensex platform, NTPC, PowerGrid, Reliance, Axis Bank, ICICI Bank, TechM were among the gainers. On the flip side, JSW Steel, M&M, Tata Steel, UltraCemco, Infosys, Titan emerged losers.
In the broader markets, the BSE Midcap index rose 0.16 per cent, while the BSE Smallcap dropped 0.78 per cent.
Sectorally, banks, energy, infra, and pharma gained. On the other hand, information technology, metals, FMCG, and automobile stocks closed in the red. Meanwhile, Nifty Pharma and PSU Bank stocks advanced up to 0.4 per cent.
In the previous special trading session on Saturday, the BSE benchmark Sensex climbed 61 points to end its all-time closing high of 73,806, while the NSE Nifty50 jumped 40 points to close at a new high of 22,378.
Moody's, the global rating agency, revised its growth projection for India in the 2024 calendar year upwards to 6.8 percent, up from the previous estimate of 6.1 percent. This adjustment comes on the heels of robust economic data from 2023 and diminishing global economic challenges.
In the Asian markets, major indices in Seoul, Tokyo, Shanghai, and Hong Kong closed in positive territory. Meanwhile, European markets exhibited mixed trading patterns, while the US markets concluded the week with gains.
The price of Brent crude, the global oil benchmark, saw a modest increase of 0.30 percent, reaching $83.80 per barrel.
According to exchange data, foreign institutional investors (FIIs) divested equities valued at Rs 81.87 crore on Saturday.
Meanwhile, the Indian rupee strengthened by 2 paise to settle at 82.89 against the US dollar on Monday, influenced by a weakening American currency in international markets and positive sentiments in the equity market. Nevertheless, the currency faced pressure from fluctuating crude oil prices and outflows of foreign funds, as observed by forex traders.
Trading within a narrow range, the rupee opened at 82.86 against the greenback in the interbank foreign exchange market, ultimately closing at 82.89 (provisional), marking a 2-paise increase from its previous close. During the trading session, it touched a low of 82.91. In the previous session, the rupee had concluded 2 paise lower at 82.91 against the US dollar.