In today’s trading session, the Indian stock market exhibited fluctuations with a slight upward trend, eventually closing with moderate gains. The Sensex rose by 89 points, while the Nifty climbed by 21 points. The day witnessed a mix of ups and downs, with the market ending on a positive note aided by strong performances from IT and banking sectors.
The morning session saw the market opening with vigor, propelled by positive sentiments. Shares of companies like Reliance Industries, Infosys, and SBI contributed significantly to the market’s upward momentum. Despite facing some constraints within a limited range, the Indian rupee depreciated by 13 paise against the dollar.
In the global equity landscape, major stock exchanges in both BSE and NSE experienced a bullish trend today. The trading session was marked by a series of fluctuations, with Reliance Industries, Infosys, and SBI shares playing a pivotal role in driving market growth.
The BSE Sensex closed at 72,101.69, marking a modest increase of 89.64 points or 0.12%. Throughout the day, it reached a high of 72,402.67 after surging by 390.62 points or 0.54%. In contrast, it touched a low of 71,674.42, reflecting a decline of 337.63 points or 0.46% compared to the previous day.
On the other hand, the NSE Nifty concluded at 21,839.10, rising by 21.65 points or 0.10%.
Top gainers and losers in the stock market included Maruti, Nestle, Power Grid, State Bank of India, Infosys, Reliance Industries, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, and Asian Paints, which witnessed significant gains. Conversely, Tata Steel, Axis Bank, Tata Motors, and HDFC Bank ended the day on a bearish note.
The global market scenario depicted positive closures in Asian markets such as Seoul, Shanghai, and Hong Kong, with the Japanese stock exchange remaining closed due to a holiday. However, European markets predominantly engaged in trading activities on a bearish note. Wall Street wrapped up Tuesday’s trading session with gains after a night of active trading.
The global benchmark for oil, Brent Crude, experienced a 0.80% decline, settling at $86.68 per barrel. According to exchange data, foreign institutional investors (FIIs) purchased equities worth ₹1,421.48 crore on Tuesday.
Meanwhile, the Indian rupee witnessed a significant depreciation of 13 paise against the dollar. In interbank foreign exchange markets, the rupee opened at ₹83 and touched an intraday low of ₹83.17 against the greenback. Ultimately, it closed at ₹83.16 (final) against the dollar, reflecting a loss of 13 paise compared to the previous close. On Tuesday, the rupee had weakened by 13 paise against the US dollar, closing at ₹83.03.
The Indian stock market demonstrated resilience amidst volatile trading conditions, buoyed by strong performances from key sectors such as IT and banking. The global market outlook remained mixed, with varying trends observed across different regions. The depreciation of the Indian rupee against the dollar warrants careful monitoring, as it can have implications for the country’s trade and economic stability.