Benchmark indices opened higher today, led by gains in banking, consumer durables and IT stocks. Sensex rose 549 points to 59,690 and Nifty gained 174 points to 17,796. Market cap of BSE-listed firms stood at Rs 283.48 lakh crore today. IndusInd Bank, Bajaj twins, HCL Tech, ICICI Bank and Tech Mahindra emerged as the top gainers, rising up to 3.11 per cent. All 30 Sensex stocks were trading in green.
BSE midcap and smallcap indices rose 283 points and 345 points, respectively. Banking, IT, consumer durables and auto shares were the top sectoral gainers with their BSE index rising 528 points, 347 points, 611 pts and 350 pts, respectively. All 19 BSE sectoral indices were trading in the green.
Stocks in news: Adani Enterprises, Ceat, Natco Pharma, V-Mart and more
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, “Since globally markets are focused on Fedspeak on the Sept 21, major breaks from the present levels are unlikely for two days. A big correction after the Fed decision is possible only if the rate hike is by 100 bps. The Indian market continues to show resilience despite global challenges. Major indices like Nifty Bank, autos, FMCG and cement are at record levels with only Nifty IT dragging the benchmark indexes. The real winners in this volatile market are investors who remained invested without much trading. This strategy may be continued in the near-term. There is value emerging in IT for long-term investors.”
Market breadth was positive with 2,117 stocks trading higher against 449 stocks falling on BSE. 88 shares were unchanged.
Foreign institutional investors were net buyers on Monday as they bought shares worth Rs 312 crore, as per exchange data.
Previous session
Sensex closed above the 59k level on Monday, snapping three sessions of losses amid weak global cues. Sensex ended 300 pts higher at 59,141 and Nifty climbed 91 points to end at 17,622 with 35 of its constituents ending in the green. Of 30 Sensex stocks, 22 closed in the green. M&M, Bajaj Finance, SBI, and HUL were the top Sensex gainers, rising up to 3.05 per cent. Tata Steel, ICICI Bank, PowerGrid and NTPC were the top Sensex losers, falling up to 2.50 per cent.