Stock Market Erases Early Loss: Sensex Gains 100 Points; Nifty Around 19,700. Bajaj Finance Sheds 2 Per Cent

Stock update: On the 30-share Sensex platform, NTPC, TCS, HCL, Tata Motors, Sun Pharma, ITC were in the green. PowerGrid, Bajaj Finance, JSW Steel, Titan, Bajaj Finserv, Tata Steel emerged losers

In the broader markets, the BSE Midcap and Smallcap indices gained up to 0.31 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Thursday recouped their losses after opening lower tracking weak sentiment. The domestic indices are now trading marginally higher. At 9.46 am, the BSE Sensex rose 108 points to 65,783. On the other hand, the NSE Nifty50 was trading at 19,698, up 23 points.

On the 30-share Sensex platform, NTPC, TCS, HCL, Tata Motors, Sun Pharma, ITC were trading in the green. On the downside, PowerGrid, Bajaj Finance, JSW Steel, Titan, Bajaj Finserv, Tata Steel emerged losers. Among specific stocks, TCS rose nearly 1 per cent on fixing buyback issue price at Rs 4,150, a premium of 22 per cent from last close. Bajaj Finance sank 1.5 per cent after the RBI barred the firm from two digital lending products; Insta EMI and eCOM.

#ABPStockMarketWatch | Sensex and Nifty recouped their early losses after opening lower, on Thursday

At 10:00 AM, #Sensex rose by 58 points to 65,734 & #Nifty by 18 points to 19,693

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/5H2aPICYmq

— ABP LIVE (@abplive) November 16, 2023

In the broader markets, the BSE Midcap and Smallcap indices gained up to 0.31 per cent.

Sectorally, Nifty oil & gas gained 0.5 per cent. Metals and Financial indices went down by 0.6 per cent.

In the previous session on Wednesday, the Sensex zoomed 742 points to end at 65,676, while the NSE Nifty50 closed at 19,675, up 232 points.

In Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong were trading lower. The US markets ended with gains on Wednesday.

Global oil benchmark Brent crude declined 0.75 per cent to $80.57 a barrel.

Foreign Institutional Investors (FIIs) turned buyers on Wednesday as they bought equities worth Rs 550.19 crore after unabated offloading of shares, according to exchange data.

Meanwhile, Indian rupee declined by 9 paise to 83.18 against the US dollar in early trade on Thursday due to a firm greenback in the overseas markets. FII inflows and crude oil prices extending losses, however, helped the rupee restrict the fall, forex dealers said.

At the interbank foreign exchange market, the rupee opened lower at 83.18 against the US currency. It moved in a tight range in morning deals. The rupee appreciated 24 paise to close at 83.09 against the US dollar on Wednesday as the American currency retreated from its elevated levels after the US inflation came lower than expected.