Stock Market Today: Sensex Rises Over 300 Points; Nifty Above 22000 On Firm Cues. Auto Index Up 1%

Stock update: On the 30-share Sensex platform, Maruti, Tata Motors, M&M, L&T, Infosys, UltraCemco emerged gainers. PowerGrid, ITC, Axi Bank, HCLTech, and Kotak Bank were among the losers

In the broader markets, the BSE Midcap and Smallcap indices gained 0.5-1.0 per cent.

The two key equity benchmarks, Sensex and Nifty, on Friday opened higher amid positive global sentiment. At 10.10 am, the BSE Sensex jumped 338 points to 73,228. On the other hand, the NSE Nifty50 was trading at 22,027, up 116 points.

On the 30-share Sensex platform, Maruti, Tata Motors, M&M, L&T, Infosys, UltraCemco emerged gainers. On the down side, PowerGrid, ITC, Axi Bank, HCLTech, and Kotak Bank were among the losers.

#ABPStockMarketWatch | Indian equity benchmarks Sensex and Nifty opened in the green, on Friday

At 09:33 AM, #Sensex gained 203 points to open at 72,253, and #Nifty gained 74 points to open at 21,984

Here's a look at the stocks in focus:#ABPLive #OpeningBell #MarketWatch pic.twitter.com/yW4lpEDASL

— ABP LIVE (@abplive) February 16, 2024

In the broader markets, the BSE Midcap and Smallcap indices gained 0.5-1.0 per cent.

Sectorwise, Nifty Auto index advanced 1 per cent, healthcare index up 1 per cent, while power index down 0.3 per cent.

In the previous session on Thursday, the BSE Sensex closed 228 points higher at 72,050, while the NSE Nifty50 ended at 21,911, up 71 points.

V K Vijayakumar, chief investment strategist at Geojit Financial Services, said FIIs sold equities worth Rs 6,993 crore in the cash market while DIIs (Domestic Institutional Investors) bought equities worth Rs 5,173 crore. "The trend of FII selling is likely to continue since the 10-year US bond yield is high at 4.24 per cent. The trend of DII buying too is likely to continue since the flows into the DIIs continue to be robust," he said.

Brent crude futures, the global oil benchmark, were trading 0.07 per cent lower at $a82.80 per barrel.

Foreign Institutional Investors (FIIs) were net sellers on Thursday, offloading shares worth Rs 3,064.15 crore.

Meanwhile, the rupee rose 4 paise to 83.01 against the US dollar in early trade on Friday, tracking positive cues from domestic equity markets. Forex traders said a strong American currency and elevated crude oil prices, however, weighed on the local unit.

At the interbank foreign exchange, the domestic currency opened at 83.03 and inched up to 83.01 against the greenback in initial deals, registering a gain of 4 paise from its previous close. On Thursday, the rupee settled 3 paise lower at 83.05 against the US dollar.