Stock Market Today: Sensex Surges Over 200 Points; Nifty Above 16,200

At 9:18 am, Sensex was up 247 points or 0.46 per cent at 54,300, whereas the Nifty 50 index advanced 78 points or 0.49 per cent at 16,203. 
Stock Market Today: Sensex Surges Over 200 Points; Nifty Above 16,200

Earlier in the day, the Asian stocks were trading higher, with the MSCI index of Asia-Pacific surging as much as 0.30 per cent. The Hang Seng index was up 0.45 per cent, whereas South Korea’s KOSPI advanced 0.75 per cent. 

However, major indices in the US traded lower on Tuesday owing to a slump in stocks of several big-weighted technology companies after Snapchat’s stark profit spooked investors. The S&P 500 index slipped 32.27 points or 0.8 per cent to 3,941.48. The Dow Jones Industrial Average soared 48.38 points or 0.2 per cent to 31,928, whereas the Nasdaq fell 270 points or 2.3 per cent to 11,264.

Back home, barring auto, IT, media, and metal stocks, all other sectoral indices witnessed buying between 0.03 per cent to 1.20 per cent. The Nifty Midcap 50 index advanced 0.01 per cent at 7,534, whereas the Nifty Midcap 100 index slumped 0.16 per cent at 27,549. 

Amongst the Nifty 50 companies, State Bank of India, IndusInd Bank, HDFC Life, SBI Life Insurance Limited, and Nestle India were the top gainers, whereas Asian Paint, Adani Ports, Tech Mahindra, JSW Steel, and HCL Tech were the top losers. 

Amongst the BSE-listed companies, IndusInd Bank, Nestle India, Kotak Bank, HDFC Bank and ICICI Bank remained the top gainers, whereas Asian Paint, Tech Mahindra, TCS, HCL Tech, and Wipro were the top losers. 

On Tuesday, the foreign institutional investors (FII) remained the net sellers worth Rs 2,393 crore, whereas the domestic institutional investors (DII) were the net buyers worth Rs 1,948 crore. 

Meanwhile, oil prices soared higher in early trade on Wednesday with the brent crude oil benchmark surging 46 cents or 0.4 per cent to $114.02 per barrel. On Tuesday, the Rupee slipped by two paise to close at 77.57 against the US dollars. 

Notably, the stocks of Coal India, BPCL, InterGlobe Aviation, Apollo Hospitals, and Grasim industries will remain on focus on Wednesday owing to the quarterly results announcement by these companies later in the day. 

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