Stock Market: Sensex Rises 529 Points, Ends Near 66,600; Nifty Above 19700. SBI Up 3 Per Cent, PSU Banks Lead

Stock update: On the 30-share Sensex platform, SBI, Wipro, Reliance, HDFC Bank, Kotak Bank, TechM were among the top winner. On the downside, Tata Motors, Airtel, Titan, JSW, M&M, TCS emerged losers

In the broader markets, the BSE Midcap index settled 0.3 per cent up, while the BSE Smallcap index advanced 0.85 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Monday closed in the green, hitting fresh all-time highs. The S&P BSE Sensex notched a new high of 66,656 in the intra-day trade, before ending at 66,590, surging 529 points. On the other hand, the Nifty50, also hit a new record high of 19,732, while eventually settled at 19,711, up 147 points.

On the 30-share Sensex platform, SBI, Wipro, Reliance, HDFC Bank, Kotak Bank, TechM were among the top winner at the bourses. On the downside, Tata Motors, Airtel, Titan, JSW, M&M, TCS emerged losers.

#ABPLiveStockMarketWatch | Sensex and Nifty closed in the green, hitting fresh all-time highs, on Monday

At 03:40 PM, #Sensex gains 529 points to 66,590 & #Nifty up 147 points to close at 19,711

Here's a look at the stocks in focus#ClosingBell #ABPLive #marketwatch pic.twitter.com/TULkJ5VOHe

— ABP LIVE (@abplive) July 17, 2023

In the broader markets, the BSE Midcap index settled 0.3 per cent up, while the BSE Smallcap index advanced 0.85 per cent. The indices hit new highs of 29,593 and 34,079, respectively.

Among sectors, the Nifty PSU Bank index jumped over 2 per cent, the Nifty Bank index 1.5 per cent, and the Nifty IT index 0.4 per cent.

The three-day issue of Netweb Tech sailed through and was subscribed 1.65 times till 3:30 pm on day one of the offer. The employee portion was booked 5.6 times, retail portion 2.3 times, NII 2.06 times, and QIB portion 2 per cent. The bidding will close at 5:00 pm.

"Despite the mixed performance observed in the Asian market due to China's underwhelming GDP data, the Indian market exhibited resilience, in anticipation of a bumper Q1 result," Vinod Nair, Head of Research at Geojit Financial Services said.

Foreign institutional investors (FIIs) were buyers on Friday as they bought equities worth Rs 2,636.43 crore, according to exchange data.

In Asian markets, Seoul and Shanghai ended lower. Equity markets in Europe were trading mostly in negative territory. The US markets ended on a mixed note on Friday.

Global oil benchmark Brent crude fell 1.62 per cent to $78.58 a barrel.

Meanwhile, the rupee gained 12 paise to close at 82.05 (provisional) against the US dollar on Monday, as domestic equity benchmarks scaling all-time high levels and weakness in the American currency overseas boosted investor sentiments. Besides, steady foreign fund inflows into domestic capital markets also supported the local unit, forex traders said.

At the interbank foreign exchange market, the local unit opened at 82.14 against the US dollar and settled 12 paise higher at 82.05 (provisional) against the previous close.

During the day, the domestic unit witnessed an intra-day high of 82.03 and a low of 82.20. On Friday, the rupee had closed at 82.17 against the dollar.