Stock Market Today: Indices snap 4-day dropping streak; Sensex rallies 428 factors, Nifty settles above 16,450-mark

Stock Market Today, Share Market Updates: The benchmark fairness indices on BSE and National Stock Exchange (NSE) snapped out of a four-session dropping streak and ended round 0.75 per cent larger on Thursday led by index majors Reliance Industries, Bharti Airtel and Tech Mahindra regardless of a weak pattern in international market.

The S&P BSE Sensex surged 427.79 factors (0.78 per cent) to finish at 55,320.28 whereas the Nifty 50 rose 121.85 factors (0.74 per cent) to settle at 16,478.10. Both the indices had opened round 0.5 per cent decrease earlier within the day however recovered from their losses and turned constructive in the direction of the afternoon offers.

On the Sensex pack, Reliance Industries (RIL), Dr. Reddy’s Laboratories, Bharti Airtel, Tech Mahindra, Sun Pharmaceutical Industries, Kotak Mahindra Bank, Infosys, Wipro and ITC have been the highest gainers of the day whereas Tata Steel, NTPC, Ultratech Cement, Bajaj Finance, State Bank of India (SBI) and Asian Paints have been the highest losers.

Among sectors, Nifty Pharma rose 1.20 per cent, Nifty IT climbed 0.98 per cent, Nifty FMCG inched up 0.50 per cent and the Bank Nifty gained 0.40 per cent.

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In the broader market, the S&P BSE MidCap ended at 22,635.05, up 104.33 factors (0.46 per cent) whereas the S&P BSE SmallCap settled at 26,039.27, up 61.27 factors (0.24 per cent). On NSE, India VIX fell 3.51 per cent to 19.14.

“The market continued to be dominated by a volatile global market with investors weighing the impact of the upcoming global central bank meetings. However, the domestic market reversed its losses during the closing hours due to positive movements in the US futures. FIIs are cautious ahead of the Fed policy even though the market may have factored-in an interest rate hike of 50bps, due to risk of hawkish measures,” stated Vinod Nair, Head of Research at Geojit Financial Services.

Rupee

The rupee depreciated by 8 paise to shut at 77.76 (provisional) in opposition to the US greenback on Thursday, weighed down by elevated crude oil costs and chronic international capital outflows.

At the interbank international trade market, the rupee opened decrease at 77.74 in opposition to the dollar and eventually settled at 77.76, down 8 paise over its earlier shut. During the session, the rupee touched an all-time low of 77.81 in opposition to the American forex.

Global market

Global shares have been largely decrease on Thursday as buyers watched for contemporary indicators of inflation, together with hovering crude oil costs.

European shares declined in early buying and selling. France’s CAC 40 slipped 0.7 per cent in early buying and selling to six,404.59, whereas Germany’s DAX dropped 0.9 per cent to 14,309.79. Britain’s FTSE 100 fell 0.7 per cent to 7,543.28.

The future for the Dow industrials edged practically 0.1 per cent decrease to 32,862.00. The S and P 500 future fell practically 0.1 per cent to 4,111.50.

Benchmarks declined throughout Asia, besides in Tokyo, the place a weakening yen despatched problems with some Japanese exporters larger. Japan’s benchmark Nikkei 225 inched up lower than 0.1 per cent to complete at 28,246.53. Australia’s S and P/ASX 200 slipped 1.4 per cent to 7,019.70. South Korea’s Kospi ended little modified, inching down lower than 0.1 per cent to 2,625.44. Hong Kong’s Hang Seng shed 0.7 per cent to 21,869.05, whereas the Shanghai Composite misplaced 0.8 per cent to three,238.95.

-rupee enter from PTI, international market enter from AP