Stock Market Updates: Sensex Rises 700 Points, Nifty At 23,650; Zee Up 3%

Last Updated:November 19, 2024, 10:04 IST

Indian benchmark equity indices BSE Sensex and Nifty 50 climbed at open on Tuesday, amid mixed global cues.

Indian benchmark equity indices BSE Sensex and Nifty 50 climbed at open on Tuesday, amid mixed global cues.

At about 9:45 am, the Sensex was up 820.40 points or 1.06 per cent at 78,159.41, and the Nifty was up 251.90 points or 1.07 per cent at 23,705.70.

After Monday’s market crash, the Nifty and Sensex were down 11 per cent and 12 per cent from their record highs. Foreign investors offloaded nearly Rs 1,400 crore in the cash markets in yesterday’s trade.

The broader market found its grip and outperformed the headline indices with gains of 1.2 and 1.5 per cent, respectively. Despite shedding 11 per cent from their peaks, both indices still boast a robust 17 per cent year-to-date gain, far outpacing the Nifty’s 9 per cent rise.

All sectoral indices traded in the green territory. The top performers were Nifty Energy, Realty, IT, and Auto. Gains in NTPC, Reliance, ONGC, and Power Grid lifted market sentiment. Realty companies like DLF and Brigade traded higher. Auto stocks like M&M, Tata Motors, and Bajaj Auto lifted the index nearly 2 per cent higher.

Global Cues

Markets in the Asia-Pacific region were higher on Tuesday, tracking Wall Street gains, even as investors parsed discussions from Chinese financial policymakers’ at an investment summit in Hong Kong.

Mainland China’s CSI300 was 0.4 per cent higher, while the Shanghai Composite was trading ahead by 0.2 per cent, and Hong Kong’s Hang Seng index was trading higher by 0.61 per cent.

Australia’s S&P/ASX 200 was ahead by 1.02 per cent, and Japan’s Nikkei 225 was up 0.37 per cent, while the Topix rose 0.65 per cent. South Korea’s Kospi and Kosdaq traded around the flatline.

The benchmark S&P 500 and Nasdaq Composite finished higher, with energy, communication services, and consumer discretionary stocks driving gains. The Dow Jones Industrial Average was dragged down by materials stocks.

The Dow fell 0.13 per cent to 43,389.60, the S&P 500 rose 0.39 per cent to 5,892.62 and the Nasdaq rose 0.60 per cent to 18,791.81.

European stocks finished lower, weighed down by real estate and utilities stocks. The STOXX 600 index closed down 0.06 per cent. MSCI’s gauge of stocks across the globe rose 2.99 points, or 0.35 per cent, to 845.60.