Stock Market Today: Sensex, Nifty Resume Uptrend After One-Day Drop As Bank Stocks Rally
The Nifty ended at 22,635.05, up 215.10 points or 0.96% while the Sensex rose 941.12 points or 1.28% at 74,671.28. Intraday, the Nifty rose 1.05% and the Sensex gained 1.34%.
KEY HIGHLIGHTS
FPIs Turn Net Buyers After Five Sessions
Overseas investors turned net buyers of Indian equities on Monday after five consecutive sessions of selling. Foreign portfolio investors mopped up stocks worth Rs 169.09 crore, according to provisional data from the National Stock Exchange.
Domestic institutional investors stayed net buyers for the sixth day and bought equities worth Rs 692.05 crore, the NSE data showed.
Foreign institutions have been net buyers of Rs 2216 crore worth of Indian equities so far in 2024, according to data from the National Securities Depository Ltd., updated till the previous trading day.
The Nifty settled 215.10 points, or 0.96%, higher at 22,635.05, and the Sensex rose 941.12 points, or 1.28%, to end at 74,671.28.
Rupee Closes Weaker Against U.S. Dollar
-The local currency closed 12 paise weaker against the U.S. Dollar at 83.47.
-It closed at 83.35 on Friday.
Source: Bloomberg
Sensex, Nifty Resume Uptrend After One-Day Drop As Bank Stocks Rally: Closing Bell
A rally in bank stocks today led the benchmarks to rebound from their Friday's drop today and end nearly 1% higher.
The Nifty ended at 22,635.05, up 215.10 points or 0.96% while the Sensex rose 941.12 points or 1.28% at 74,671.28. Intraday, the Nifty rose 1.05% and the Sensex gained 1.34%.
"An ease in Middle East tensions, coupled with stable earnings, is expected to maintain positive market sentiment. Moving forward, FED policy and US non-farm payroll data will dictate the overall market dynamics," said Vinod Nair, head of research at Geojit Financial Services.
Shares of ICICI Bank Ltd., HDFC Bank Ltd., State Bank Of India, and Axis Bank Ltd., and Reliance Industries Ltd. contributed the most to the gains.
While those of HCLTech Ltd., Apollo Hospitals Enterprise Ltd., Bajaj Auto Ltd., ITC Ltd., and HDFC Life Insurance Co. Ltd. capped the upside.
Most sectoral indices ended higher with Nifty PSU Bank, Nifty Bank and Nifty Finance gaining the most while Nifty Realty fell 1%.
Broader markets ended higher on BSE. The S&P BSE Midcap settled 0.77% up, and the S&P BSE Smallcap ended 0.10% higher.
On BSE, 17 sectors advanced, and three declined out of 20. The S&P BSE Financial Services was the top gainer, while the S&P BSE Realty was the top loser of the day.
Market breadth was skewed in favour of the buyers. Around, 2,038 stocks rose, 1,875 stocks declined, and 175 stocks remained unchanged on BSE.
UltraTech Cement Q4 Earnings (Consolidated, YoY)
Revenue at Rs 20418.9 crore vs Rs 18,662.38 crore, up 9.41%
Ebitda at Rs 4113.88 crore vs Rs 3322.49 crore, up 23.81%
Margin at 20.14% vs 17.8%, up 234 bps
Net profit at Rs 2258.58 crore vs Rs 1670.1 crore, up 35.23%
ICICI Bank Crosses 8 Lakh Crore In Market Cap For The First Time
