Wednesday, 17 July 2024
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Stock Market

The Sensex rises 471 points on upbeat global cues

  • The global market rally on Monday resulted in gains for equity benchmark indices.
  • The two front-runners were Tata Motors and State Bank of India.
  • Early on Monday, the rupee gained 5 paise to 83.15 against the US dollar.

The global market rally on Monday resulted in gains for equity benchmark indices. During the initial trading session, the 30-share BSE Sensex experienced a 471.45-point increase to 64,835.23. At 19,357.35, the Nifty increased by 126.75 points.

Axis Bank, Nestle, JSW Steel, IndusInd Bank, Larsen & Toubro, and Mahindra & Mahindra were the top gainers among the Sensex companies. The two front-runners were Tata Motors and State Bank of India.

Asian markets

Hong Kong, Shanghai, Tokyo, Seoul, and other Asian markets were trading positively. On Friday, US markets closed higher than when they started. The benchmark for world oil, Brent crude, increased 0.37 percent to USD 85.20 per barrel.

Early on Monday, the rupee gained 5 paise to 83.15 against the US dollar, tracking gains in domestic stocks as risk-on sentiment dominated the market.

After the US dollar depreciated from its high levels and October’s job growth in the US was less rapid than anticipated, forex traders reported that the rupee increased.

The domestic currency opened at 83.17 against the dollar at the interbank foreign exchange and hit an early high of 83.15, indicating a gain of 5 paise over its previous close.

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