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This is an archive article published on November 7, 2022
Share Market Today News: Sensex rises 235 points, Nifty ends above 18,200-mark
Share Market Today, Stock Market Today, NSE, BSE, Nifty Share Prices Today, November 7: The S&P BSE Sensex rose 234.79 points (0.39 per cent) to end at 61,185.15 while the Nifty 50 gained 85.65 points (0.47 per cent) to settle at 18,202.80.
Market Today, Sensex Nifty Share Price Updates: Employees working at a Kolkata-based stock broking firm. (Express photo by Partha Paul)
Stock Market New Today, Sensex, Nifty Share Price Live Today, November 7, 2022: The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their gaining momentum for the second consecutive session ending higher on Monday taking cues from their global peers and a fall in crude oil prices.
The S&P BSE Sensex rose 234.79 points (0.39 per cent) to end at 61,185.15 while the Nifty 50 gained 85.65 points (0.47 per cent) to settle at 18,202.80. Both the indices had opened on a positive note gaining over 0.5 per cent in early deals however they gave up their gains and turned negative later. In the last hour of the session, they again rallied marginally and ended nearly 0.5 per cent higher.
On the Sensex pack, State Bank of India (SBI), Tata Steel, ICICI Bank, UltraTech Cement, Maruti Suzuki India and Mahindra & Mahindra (M&M) were the top gainers on Monday. In contrast, Asian Paints, Bajaj Finserv, Sun Pharmaceutical Industries, Titan Company, Kotak Mahindra Bank and Dr. Reddy’s Laboratories were the top losers.
On the sectoral front, the Nifty PSU Bank index surged 4.46 per cent, while Nifty Metal gained 1.58 per cent and Nifty Auto rose 1.30 per cent.
Amongst mid-caps and small-caps, the S&P BSE MidCap rose 176.67 points (0.69 per cent) to end at 25,823.74 while the S&P BSE SmallCap gained 185.32 points (0.64 per cent) to close at 29,292.56.
Going ahead, markets will be shut Tuesday on account of Gurunanak Jayanti and will reopen Wednesday.
“The domestic market battled to find a clear direction but it ended up making gains. Losses in pharmaceutical companies were offset by buying in PSU banks, auto, and metal equities. PSU banks took the lead in the rally as major sector players announced solid results. Fall in oil prices as China disputed rumours of lifting Covid restrictions and stronger US jobs data showed that the US economy is expanding, helped market. However, investors will await US inflation data for market direction as there aren’t many domestic clues left as the corporate earnings season is drawing to close with a negative bias,” said Vinod Nair, Head of Research at Geojit Financial Services.
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Global Markets (from AP)
Global stocks mostly advanced on Monday as investors weighed uncertainties such as the US midterm elections and China’s possible moves to ease coronavirus restrictions. Oil prices fell and US futures edged lower.
France’s CAC 40 lost 0.4 per cent to 6,391.90 in early trading, while Germany’s DAX edged up nearly 0.1 per cent to 13,470.68. Britain’s FTSE 100 rose nearly 0.1 per cent to 7,340.85. The future for the Dow industrials slipped 0.1 per cent while the future for the S&P 500 edged up 0.2 per cent.
Speculation about a possible relaxation of China’s zero-COVID strategy has had a huge impact on markets. On Monday, Hong Kong’s Hang Seng index gained 2.7 per cent to 16,595.91 and the Shanghai Composite rose 0.2 per cent to 3,077.85.
Japan’s benchmark Nikkei 225 jumped 1.2 per cent to finish at 27,527.64. Australia’s S&P/ASX 200 gained 0.6 per cent to 6,933.70. South Korea’s Kospi gained nearly 1.0 per cent to 2,371.79.
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