Stock Market: Sensex Climbs 200 Points; Nifty Above 17,550 On Global Cues. Titagarh Rail Surges 10%

Stock update: On the 30-share Sensex platform, JSW Steel, Titan, Reliance, Tata Steel, HDFC Bank, Infosys emerged early gainers. L&T, Maruti, NTPC, Nestle, IndusInd Bank, TechM were among the losers

In the broader indices, the BSE Midcap and Smallcap gained 0.4 per cent each.

The two key equity benchmarks, Sensex and Nifty, on Tuesday opened higher during early trade tracking positive global sentiment. At 10.10 am, the BSE Sensex climbed 227 points to 65,882. On the other hand, the NSE Nifty50 was trading at 19,765, up 70 points.

On the 30-share Sensex platform, JSW Steel, Titan, Reliance, Tata Steel, HDFC Bank, Infosys emerged early gainers. On the downside, L&T, Maruti, NTPC, Nestle, IndusInd Bank, TechM were among the losers. Among specific stocks, Titagarh Rail stock soared 10 per cent following a deal with ABB India to supply propulsion systems for metro rolling stock projects.

#ABPStockMarketWatch | Sensex and Nifty opened higher tracking positive global sentiment, on Tuesday

At 10:05 AM, #Sensex gained 221 points to 65,877 & #Nifty 72 points to 19,766

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/827ruumbxB

— ABP LIVE (@abplive) November 21, 2023

About 2,061 shares advanced, 851 shares declined, and 109 shares unchanged.

In the broader indices, the BSE Midcap and Smallcap gained 0.4 per cent each.

Sectorwise, except capital goods, all other indices are trading in the green with realty, IT, and metal rose 0.5-1 per cent.

In the previous session on Monday, the S&P BSE Sensex closed 140 points down to 65,655, while the NSE Nifty50 closed at 19,694, down 38 points.

"The global cues are supportive. The softening US bond yields (the 10-year yield is at 4.41 per cent) will provide the big global macro backdrop for a market rally," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading with gains, whereas the US markets ended in the positive territory on Monday.

Global oil benchmark Brent crude declined 0.44 per cent to $81.96 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 645.72 crore on Monday, according to exchange data.

Meanwhile, the Indian rupee recovered from its all-time low levels and appreciated 6 paise to 83.32 against the US dollar in morning trade on Tuesday, tracking the weakness of the American currency in the overseas market and positive domestic equities. Forex traders said the rupee fell to fresh record lows on Monday despite broad weakness in the dollar against its major crosses on suspected importer-related buying.

At the interbank foreign exchange, the rupee opened at 83.33, then touched 83.32 against the American currency, higher by 6 paise over its previous close. On Monday, the rupee declined by 12 paise to settle at its all-time low of 83.38 against the US dollar.