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Stock Market Today 2022: Sensex rallies 379 points, Nifty settles above 17,800-mark led by auto, FMCG stocks

Market Today - Share Market ,Stock Market Today, August 16, 2022: The S&P BSE Sensex rose 379.43 points (0.64 per cent) to end at 59,842.21 while the Nifty 50 climbed 127.10 points (0.72 per cent) to settle at 17,825.25.

Sensex | Nifty | Share Market | Stock Market | Market TodayMarket Today, Sensex Today, Nifty Today: Staff working in a Kolkata-based stock broking company. (Express photo by Partha Paul)

Market Today, Sensex, Nifty: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 0.6 per cent higher on Tuesday led by gains in automobile and fast-moving consumer goods (FMCG) stocks amid softening wholesale and retail inflation in July.

The S&P BSE Sensex rose 379.43 points (0.64 per cent) to end at 59,842.21 while the Nifty 50 climbed 127.10 points (0.72 per cent) to settle at 17,825.25. Both the indices had opened around 0.5 per cent higher earlier in the day and extended further as the trade progressed with the BSE benchmark hitting an intraday high of 59,923.03 and the broader Nifty touching 17,839.10.

On the Sensex pack, Mahindra & Mahindra (M&M), Maruti Suzuki India, Asian Paints, Hindustan Unilever (HUL), UltraTech Cement, HDFC twins – Housing Development Finance Corporation (HDFC) and HDFC Bank, Tech Mahindra and Reliance Industries (RIL) were the top gainers of the day. On the other hand, State Bank of India (SBI), Bharti Airtel, Bajaj Finance and Tata Consultancy Services (TCS) ended in the red.

Among the sectoral indices on NSE, Nifty Auto surged 2.52 per cent, Nifty FMCG rallied 1.19 per cent, Nifty Financial Services climbed 0.75 per cent and Bank Nifty rose 0.51 per cent.

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In the broader market, the S&P BSE MidCap index ended at 25,020.92, up 255.87 points (1.03 per cent) while the S&P BSE SmallCap settled at 28,194.37, up 288.46 points (1.03 per cent).

“The easing of inflationary pressures has encouraged domestic investors to remain optimistic about the pace of economic recovery. Better-than-expected CPI numbers, aided by slower increase in food and fuel prices, may limit the pace of rate hikes by the RBI. In the Asian market, the Chinese central bank surprised the market by cutting its interest rates after a weak set of economic data. Following that, oil prices slumped on demand worries,” said Vinod Nair, Head of Research at Geojit Financial Services.

Global Markets (from AP)

Global shares mostly rose Tuesday, despite investor risk reflected in negative economic data out of China, and analysts warned that volatility may lie ahead.

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European shares gained in early trading. The benchmark in Tokyo finished little changed, while indexes in South Korea and Australia gained. Hong Kong’s benchmark slipped, while Shanghai shares rose.

France’s CAC 40 added 0.4 per cent in early trading to 6,598.28. Germany’s DAX rose 0.6 per cent to 13,904.68. Britain’s FTSE 100 added 0.4 per cent to 7,539.93.

US shares were set to drift moderately lower with Dow futures inching down to 33,869.00. S&P 500 futures fell nearly 0.1 per cent to 4,295.00.

First published on: 16-08-2022 at 09:37:57 am
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