Stock update: On the 30-share Sensex platform, Reliance jumped 6.6 per cent, followed by Tata Motors, Power Grid, L&T, NTPC, Kotak Bank, NTPC. ITC, Infosys, JSW Steel, TechM, TCS were among the losers
Upon the recent market observation, the twin pillars of equity evaluation, namely Sensex and Nifty, experienced a significant surge on the trading day referred to as Monday. This ascension was primarily propelled by a notable upsurge in Reliance shares alongside a robust wave of positive cues emanating from the global market arena. Specifically, the S&P BSE Sensex, during intraday trading, witnessed a substantial upswing of nearly 1,300 points before eventually concluding the session with a remarkable ascent of 1,241 points, ultimately resting at a value of 71,942. Conversely, the NSE Nifty50 index wrapped up its trading activities, marking an upward trajectory of 385 points, ultimately settling at 21,738.
Within the realm of the 30-share Sensex platform, Reliance emerged as the frontrunner, exhibiting a notable surge of 6.6 percent. This commendable performance was closely followed by notable gains in Tata Motors, Power Grid, L&T, NTPC, and Kotak Bank, all contributing to the positive sentiment. However, amidst this flurry of bullish activity, certain entities experienced a downturn, with ITC, Infosys, JSW Steel, TechM, and TCS being among the notable decliners.
Moreover, it is imperative to note that the volatility index, commonly referred to as the India VIX, underwent a significant uptick, registering a surge of nearly 13 percent during the aforementioned trading session.
Sensex and Nifty zoomed higher tracking firm global cues, on Monday
In the broader market landscape, the BSE Midcap index saw an increase of 1.68 percent, while the BSE Smallcap index registered a growth of 1.02 percent.
In terms of sectors, the Nifty PSU Bank segment witnessed a notable rise of 2.4 percent. Additionally, both the Nifty Auto and Financial Services indices emerged as top performers, each experiencing a gain of 1.6 percent.
During the preceding session on Friday, both the Sensex and Nifty indices remained closed in observance of Republic Day.
Across Asian markets, Seoul, Tokyo, and Hong Kong concluded their trading sessions in positive territory, whereas Shanghai recorded a decline. Meanwhile, European markets predominantly saw a downtrend in trading activity. In the United States, market closure on Friday resulted in a mixed outcome.
The global oil benchmark, Brent crude, saw a decrease of 0.18 percent, settling at $83.40 per barrel.
According to exchange data, Foreign Institutional Investors (FIIs) divested equities valued at Rs 2,144.06 crore on Thursday.
Meanwhile, the Indian rupee experienced a depreciation of 3 paise against the US dollar on Monday, reaching a provisional value of 83.14. This decline was attributed to heightened crude oil prices in international markets and increased demand for the dollar from importers, which negatively impacted investor sentiment. Forex traders noted that the rupee traded within a narrow range, with support from positive domestic equities being counteracted by ongoing outflows of foreign funds.
In interbank foreign exchange trading, the rupee commenced trading at 83.14 against the US dollar. Throughout the day, it reached an intraday high of 83.13 and a low of 83.15 against the American currency. Ultimately, the rupee settled at 83.14 (provisional) against the dollar, marking a decrease of 3 paise from its previous close. On Thursday, the rupee had experienced minimal movement, gaining just 1 paisa to close at 83.11 against the US dollar in a range-bound trading session.
At 04:00 PM, #Sensex gained 1,241 points to 71,942 & #Nifty gained 385 points to close at 21,738