Indian equity market snapped six days of gaining streak today amid positive global cues. Sensex climbed 237 points to settle at 51,597 and Nifty gained 56 points to close at 15,350. HDFC, HUL, UltraTech Cement, Asian Paints, and HDFC Bank were the top Sensex gainers, rising up to 3.97 per cent.
Tata Steel, IndusInd Bank, NTPC and RIL were among the top Sensex losers, falling up to 5.03 per cent in the previous session.
BSE midcap and smallcap indices slipped 296 points and 711 points, respectively.
The market cap of BSE-listed firms fell to Rs 234.86 lakh crore against Rs 236.77 lakh crore market cap in the previous session.
Deepak Jasani, Head of Retail Research, HDFC Securities said, "A fall in crude oil prices has given some positive cues to markets like India and resulted in fall in bond yields. Nifty seems to have stabilised on a day when the US markets are shut. Having formed a double bottom at 15,183-15,191, Nifty could head towards 15,670, if no new negative developments crop up on the horizon."
Among BSE sectoral indices, metal and oil and gas shares were the top losers, with their indices falling 710 points and 598 points, respectively.
Share Market update: Sensex rises 237 pts, Nifty ends at 15,350; HUL, HDFC top gainers
Top gainers were the FMCG stocks with their BSE index ending 160 points higher at 13,424.
Market breadth was negative with 689 stocks ending higher against 2729 shares ending lower on BSE. 164 stocks were unchanged.
Nagaraj Shetti, Technical Research Analyst, HDFC Securities said, "The negative sequence of lower tops and bottoms is intact as per daily timeframe chart and current consolidation indicates an attempt of lower high formation. Hence, any attempt of lack of strength around 15500 levels could possibly bring bears into action. The short-term trend of Nifty continues to be volatile with broader range movement. A decisive move above 15500 levels could open an upside bounce in the market. Important support to be watched around 15200 levels."
Meanwhile, the rupee appreciated by 7 paise to settle at 77.98 against the US dollar on Monday as crude oil prices retreated from elevated levels.
At the interbank forex market, the currency opened strong at 77.98 and witnessed an intra-day high of 77.87 and a low of 78.03.
Foreign institutional investors (FIIs) remained net sellers in the capital market, as they sold shares worth Rs 7,818.61 crore on Friday, as per exchange data.
In Asia, markets in Tokyo, Seoul and Shanghai settled lower, while Hong Kong ended with gains. European markets were trading in the green in mid-session deals. Meanwhile, international oil benchmark Brent crude gained 0.06 per cent to $113.2 per barrel.
Copyright©2023 Living Media India Limited. For reprint rights: Syndications Today