Stock Market: Sensex Rises Over 100 Points, Nifty At 19,330 Mark. JioFin Up 1.72%, Reliance Declines

Stock Market Update: On the 30-share Sensex, JioFin, Tech Mahindra, PowerGird, Bajaj Finserv were among the early gainers. On the downside, Bharti Airtel, Axis Bank, Reliance emerged as losers.

In the broader markets, the BSE Midcap and BSE Smallcap jumped 0.42 per cent and 0.69 per cent, respectively. 

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Tuesday, started the session with gains following strong global cues. At 9.50 am, the S&P BSE Sensex, which surged 105 points or 0.16 per cent to 65,102. On the other hand, the NSE Nifty was trading at 19,343, up 37 points or 0.19 per cent. 

On the 30-share Sensex platform, JioFin (1.72 per cent), Tech Mahindra, PowerGird, Bajaj Finserv, and NPTC were among the early gainers. On the downside, Bharti Airtel, Axis Bank, Reliance, IndusInd Bank, and HUL emerged as losers.

Among specific stocks on Nifty, shares of Reliance dipped over 0.60 per cent following the 46th annual general meeting (AGM). Bharti Airtel, Axis Bank, IndusInd Bank, and Apollo were among the other losers on Nifty. On the other hand, JioFin, Tech Mahindra, UPL, PowerGird, and Adani Enterprises rose over 1 per cent. 

#ABPLiveStockMarketWatch | Indian equity benchmarks opened in the green on Tuesday
At 09:37 AM, #Sensex went up by 115 points to 65,112 & #Nifty by 35 points to 19,341

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/I9WJ24LAPS

— ABP LIVE (@abplive) August 29, 2023

In the broader markets, the BSE Midcap and BSE Smallcap jumped 0.42 per cent and 0.69 per cent, respectively. 

Sectorwise, barring Nifty PSU Bank and Nifty FMCG indices, all other sectors traded in green. Nifty Media, Nifty IT, and Nifty Metal indices led the gains, rising over 0.7 per cent.

In the previous session, the BSE Sensex closed at 64,996, up 110 points. On the other hand, the NSE Nifty ended up 40 points to 19,306.

Overnight, on Wall Street, the S&P 500 advanced by 0.63 per cent, concluding at a level of 4,433.31 points. The Nasdaq also saw a gain of 0.84 per cent, reaching 13,705.13 points. The Dow Jones Industrial Average saw a rise of 0.62 per cent, ending the session at 34,559.98 points. Investors are awaiting inflation and jobs data scheduled for release this week, which will provide more insight into the Federal Reserve's potential decisions regarding interest rates. 

The Asian markets also rose in Monday morning session following strong trading singles for Wall Street. Japan's Nikkei 225 saw a 0.2 per cent rise, South Korea's Kospi rose 0.3 per cent, and the Hang Seng index also continued its upward trajectory rising 0.8 per cent.

Commodity-wise, Brent Crude and WTI Crude maintained levels above $84 and $80 per barrel, respectively.

In early trading, the rupee advanced by 2 paise to reach 82.61 against the US dollar. This gain was supported by the US dollar's weakness against major global counterparts and the positive performance of the domestic equity markets.

Opening at 82.58 at the interbank foreign exchange, the rupee briefly touched its lowest point of 82.62. However, it later settled at 82.61 against the dollar, marking a 2 paise increase from its previous closing level.

Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Monday, as they divested shares worth Rs 1,393.25 crore, according to exchange data.