Benchmark indices Sensex and Nifty witnessed a strong intraday recovery from the day’s lows and ended largely flat after opening on a weak note amid escalating geopolitical tensions between the United States and Iran and weak global cues. The 30-share BSE Sensex gained 47.01 points or 0.06 per cent to settle at 77,616.40. During the day, the benchmark hit a high of 77,789.29 and a low of 76,857.43, gyrating 931.85 points. The 50-share NSE Nifty was up by 4.10 points or 0.02 per cent and ended the session at 24,211. However, the broader market ended in the green. While the BSE MidCap Select Index zoomed 93.17 points or 0.51 per cent, the BSE SmallCap Select Index dropped 3.04 points or 0.03 per cent.ย
IT stocks rallyย
Among sectoral indices, Nifty IT and Nifty Consumer Durables witnessed substantial buying.ย
“Resilience in IT, consumer durables, and financial services stocks helped offset the impact of geopolitical concerns, enabling the benchmark indices to recover from early losses and close on a largely flat note,” said Rupak De, Senior Technical Analyst at LKP Securities.
Meanwhile, Brent crude, the global oil benchmark, was trading higher by 1.93 per cent at USD 77.48 per barrel in futures trade.
Top gainers and losersย
Among the 30-Sensex firms, TCS, HCL Tech, Tech Mahindra, Infosys and NTPC were the major gainers, with TCS gaining 5.43 per cent today. On the flip side, Tata Steel, Eternal, Indigo, Maruti and UltraTech Cement were among the laggards. Tata Steel’s shares tumbled 2.09 per cent today.
On Monday, shares of 12 out of 30 Sensex companies closed in the green, while the remaining 18 closed in the red. On the other hand, shares of 21 of the 50 Nifty 50 companies also closed in the green, while the remaining 29 closed in the red.ย
Rupee falls 27 paise
The rupee depreciated 27 paise to close at 95.65 (provisional) against the US dollar on Monday, weighed down by elevated crude oil prices after Iran declared the Strait of Hormuz closed.ย As a major oil-importing currency, the rupee came under pressure and emerged as the weakest performer among Asian currencies.ย ย
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)