Stock Market: Indian stock market rises for the second day, Sensex opens at 65,272 with a gain of 56 points
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stock market updates: The Indian stock market started on a positive note on the second trading day of the week. Major stock indices Sensex and Nifty rose during early trade on Tuesday amid a strong trend in global markets. During this period, the 30-share BSE Sensex climbed 92.83 points to reach 65,308.92. Whereas, the NSE Nifty opened 35.5 points higher at 19,429.10. NTPC, Mahindra & Mahindra, ITC, Tata Motors, Axis Bank, Bajaj Finserv, JSW Steel and Larsen & Toubro gained in Sensex stocks. On the other hand, the shares of Jio Financial Services, Tata Consultancy Services, Infosys and Titan declined. In other Asian markets, Kospi of South Korea, Nikkei of Japan and Hangseng of Hong Kong remained profitable, while China’s Shanghai Composite remained in loss. US markets were closed on Monday with a mostly positive trend. Global oil benchmark Brent crude was down 0.14 per cent at US $ 84.34 per barrel.
Rupee rises 7 paise to 83.06 per dollar in early trade
The rupee climbed seven paise to 83.06 per dollar in early trade at the Interbank Foreign Exchange market. In view of the positive trend in the domestic market, the rupee got strengthened. Forex traders said that the rupee was trading in a narrow range as selling pressure from overseas investors weighed on the rupee. At the same time, the weak trend in the US dollar and positive domestic markets have reduced the decline. The rupee opened at 83.07 and then recovered to 83.06 at the Interbank Foreign Exchange market. This is an increase of 7 paise over the previous closing price. On Monday, the rupee had closed at 83.13 per dollar. Meanwhile, the dollar index, which gauges the US dollar’s position against a basket of six major currencies, declined 0.12 per cent to 103.17. Global oil benchmark Brent crude futures were trading at $84.32 per barrel, down 0.17 per cent.
Raunak returned on Monday after two days of lethargy
Buying in Infosys, ITC and Bajaj Finance amid a mixed trend in the global markets, both the major indices of the domestic stock markets on Monday returned to gains after two trading sessions. The BSE’s 30-share index Sensex rose 267.43 points, or 0.41 per cent. Closed at 65,216.09 points. At one time it had jumped up to 387.16 points during trading. The National Stock Exchange (NSE) index Nifty also closed at 19,393.60 points with a gain of 83.45 points, or 0.43 percent. Ajit Mishra, Senior Vice President (Technical Research), Religare Broking Limited, said that the trading week has started on a positive note and the market has gained almost half a percent. After initial hesitation, Nifty also gained momentum and closed with gains despite booking profits in the last round. Among the Sensex group companies, Bajaj Finance registered the highest gain of 2.70 per cent. Apart from this, PowerGrid, IndusInd Bank, NTPC, Bharti Airtel, ITC, Bajaj Finserv, Infosys, Nestle, Tata Steel, Tata Consultancy Services, Titan and Axis Bank also gained momentum. On the other hand, shares of Reliance Industries, Mahindra & Mahindra, Maruti Suzuki and State Bank of India declined. In the broader market, the BSE Midcap index gained 0.87 percent while the Smallcap index gained 0.71 percent.
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