Stock Market Today: Sensex rallies 659 points, Nifty ends near 17,800-mark on positive global cues

Share Market News Today | Sensex, Nifty, Share Price Today: The frontline equity indices bounced back after a two day losing streak to end around 1 per cent higher on Thursday tracking the positive cues in the global market.

The S&P BSE Sensex jumped 659.31 points (1.12 per cent) to end at 59,688.22 while the Nifty 50 rallied 174.35 points (0.99 per cent) to settle at 17,798.75. Both the indices had opened around 0.6 per cent higher earlier in the day and extended gains as the trade progressed with the Sensex hitting an intraday high of 59,711.96 and the broader Nifty touching 17,807.65.

On the Sensex pack, gains were led by Axis Bank, Tech Mahindra, ICICI Bank, Mahindra & Mahindra (M&M), State Bank of India (SBI) and UltraTech Cement were the top gainers of the day. In contrast, Tata Steel, NTPC, Titan Company and Nestle India were the top losers.

Among sectoral indices on NSE, the Nifty PSU Bank index surged 2.51 per cent, the Bank Nifty rallied 1.91 per cent, Nifty Financial Services jumped 1.48 per cent and Nifty IT climbed 0.97 per cent. On the other hand, Nifty Metal fell 0.90 per cent and Nifty Media declined 0.45 per cent.

In the broader market, the S&P BSE MidCap index rose 75.57 points (0.29 per cent) to end at 25,895.23 while the S&P BSE SmallCap climbed 175.96 points (0.60 per cent) to settle at 29,474.63. On NSE, the volatility index or India VIX declined 5.48 per cent to 18.31.

“The domestic financial market experienced a wave of optimism tracking strength across global markets as oil prices eased, cooling investor concerns about rising inflation. Despite premium valuations, consistent FII inflows are aiding Indian bourses to stay resilient. On the sectoral front, auto stocks were in focus as retail sales of automobiles grew 8.31% YoY in august while banking stocks moved in sync,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global Market (from AP)

Global stock benchmarks mostly rose Thursday as investors closely watched a European central bank meeting and sought to juggle concerns about inflation and recession.

France’s CAC 40 rose 0.1 per cent to 6,113.98 in early trading, while Germany’s DAX slipped nearly 0.1 per cent to 12,904.97. Britain’s FTSE 100 added 0.4 per cent to 7,269.52.

US shares were set to drift lower with Dow futures down nearly 0.1 per cent at 31,559.00. S&P 500 futures slipped 0.1 per cent to 3,976.25.

Japan’s benchmark Nikkei 225 surged 2.3 per cent to finish at 28,065.28. Australia’s S&P/ASX 200 gained 1.8 per cent to 6,848.70. South Korea’s Kospi rose 0.3 per cent to 2,384.28. Hong Kong’s Hang Seng dropped 1.0 per cent to 18,854.62, while the Shanghai Composite fell 0.3 per cent to 3,235.59.

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