Stock Market Update: As markets broke their two-day losing run on Monday, bulls firmly established their dominance on Dalal Street. After beginning on a cautious note, the Indian leading indices S&P BSE Sensex and NSE Nifty extended advances. Stock purchases in FMCG, auto, and bank & financial services companies improved market sentiment. The Nifty50 closed at 18420.45, up 151.45 points or 0.57 percent, while the 30-stock Sensex closed at 61,806.19, up 468 points or 0.76 points. Nifty Bank, a banking index, finished 194.25 points or 0.45% higher at 43413.75.
Top five gainers
Adani Ports, Adani Enterprises, Eicher Motors, Mahindra & Mahindra, and Power Grid were the top five gainers in the 50-stock Nifty50, while TCS, ONGC, Tata Motors, Infosys, and Sun Pharmaceuticals were the top losers.
Remaining 14 Nifty sectoral indices ended in the green
The other 14 Nifty sectors indices, with the exception of Nifty IT, finished in the black. Focus was on the Nifty Auto and Nifty FMCG indexes, which were up 1.5% and 1.41%, respectively. The following significant riser was 0.98 percent.
An indicator of Nifty volatility called INDIA VIX fell more than 3% and finished at 13.60.
Stock Market Update: Nifty Mid and small Cap 100
Stocks in the sugar and paper industries also traded strongly. In the larger markets, the biggest gainers in the Nifty Mid Cap 100 were PB Fintech (Policy Bazaar) and Indiamart, while the top losers were Tata Teleservices and Delhivery (Maharashtra). The 100-share index finished the day up 0.49 percent, at 32,166.75.
The Nifty Small Cap 100 increased 0.45% to settle at 10,062.40. In the 100-stock index, there were 49 advances, 50 drops, and 1 unchanged stock. UTI AMC, Suzlon, and Shree Renuka Sugars were the top gainers, while Deepak Fertilizers, Welspun India, and Chemplast Sanmar were the top losers.
Rupee against dollar
On Monday, the rupee strengthened 6 paise to close at 82.69 (provisional) against the US dollar as strong domestic stock market buying and a weak American dollar against major foreign currencies bolstered investor mood. Fresh outflows of foreign cash and rising crude prices restrained the rupee’s appreciation, according to forex dealers. At the interbank foreign exchange market, the local currency depreciated against the dollar, opening weak at 82.80. It reached an intraday high of 82.57 and a low of 82.80. It eventually closed at 82.69 against the US dollar, up 6 pence from its previous closing of 82.75. The dollar index, which measures the strength of the dollar against a basket of six different currencies, fell 0.4% to 104.24. PTI
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