Stock markets update: In early trade on Tuesday, the Sensex surged by 185.55 points, reaching 80,850.41, reflecting strong investor sentiment and positive market dynamics. Meanwhile, the Nifty also saw substantial gains, rallying by 63.35 points to achieve a new all-time high of 24,650.05. This upward movement is indicative of robust investor confidence amid favourable economic indicators and corporate earnings reports. Market analysts attribute the rise to increased buying across sectors, including banking, IT, and FMCG, bolstering the overall market sentiment.
Major gainers and laggards
Among the Sensex pack, Bharti Airtel, Mahindra & Mahindra, Hindustan Unilever, Tata Steel, Adani Ports, Infosys, ICICI Bank and Titan were the biggest winners. Power Grid, Larsen & Toubro, Kotak Mahindra Bank and Axis Bank were among the laggards. Foreign Institutional Investors (FIIs) bought equities worth Rs 2,684.78 crore on Monday, according to exchange data.
In Asian markets, Seoul and Tokyo were trading higher while Shanghai and Hong Kong quoted lower. US markets ended in positive territory on Monday. Global oil benchmark Brent crude dipped 0.27 per cent to USD 84.62 a barrel.
Rupee against dollar
Meanwhile, the rupee appreciated 4 paise to 83.57 against the US dollar in early trade on Tuesday, supported by positive trends in domestic equities and foreign fund inflows. Forex traders said dollar demand from local importers limited the rupee's upward momentum. At the interbank foreign exchange market, the rupee opened at 83.59 and gained ground to trade at 83.57 against the greenback in initial deals, registering a rise of 4 paise from its previous closing level.
(With inputs from PTI)
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