Business

Stock market strengthened, Sensex climbed 223 points to cross 58,600, banking stocks returned

Photo:PTI stock market

Highlights

  • Sensex is trading up 223 points at 58,611.24
  • Nifty also gained 54.65 to reach 17,452.15 points
  • The rupee fell by 22 paise to 79.46 against the US dollar

stock market After opening, the strength has increased. The Sensex is trading at 58,611.24, up 223 points till 10:30 am. At the same time, Nifty has also reached 17,452.15 points with a strength of 54.65. In today’s early trade, shares of banking, IT companies are seeing a rise. Major stock indices Sensex strengthened on the back of gains in stocks like M&M, Reliance Industries and HDFC amid a mixed trend in global markets. Although the Sensex opened with a weak trend, it has strengthened, making up for the fall in opening deals.

Mahindra & Mahindra has the highest gain

Mahindra & Mahindra was the biggest gainer of two percent in the Sensex. Apart from this, IndusInd Bank, NTPC, Reliance Industries, HDFC Bank and Maruti were among the top gainers. On the other hand, State Bank of India, Infosys, Tata Consultancy Services and ICICI Bank declined. In other Asian markets, Tokyo and Shanghai were trading higher, while Seoul and Hong Kong were trading in the red.

Rupee breaks down against US dollar

Meanwhile, international oil benchmark Brent crude was up 0.21 per cent at $95.12 per barrel. At the same time, due to weakness in the domestic stock markets, the rupee fell by 22 paise to 79.46 against the US dollar in early trade on Monday. Forex traders said continued foreign fund inflows helped hold the rupee’s fall. The rupee opened with a weak trend at 79.50 against the US dollar in the interbank foreign exchange market. However, it recovered some of the fall in opening deals and settled at 79.46. In this way the rupee was trading down 22 paise against the previous close. In the previous session, the rupee had closed 16 paise higher at 79.24 against the dollar. Meanwhile, the dollar index, reflecting the US dollar’s position against the six major currencies, fell 0.05 per cent to 106.57. According to provisional data of the stock market, foreign institutional investors on Friday netted Rs 1,605.

Bought shares worth Rs 81 crore.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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