Stock Market Updates: Nifty Above 21,500, Sensex Up 500 Points

Updates on the Stock Market Today: During the pre-opening session on January 19, benchmark indexes saw greater trade.

The Nifty was up 255.80 points, or 1.19 percent, at 21,718.10, while the Sensex was up 1,012.59 points, or 1.42 percent, at 72,199.45.

In contrast to Thursday’s finish of 83.12 per dollar, the rupee began at Rs 83.16.

On Thursday, the benchmark indices Sensex and Nifty saw a decline for the third day in a row due to persistent selling in HDFC Bank and profit-taking in shares of consumer durables and utilities.

The 30-share BSE Sensex closed at 71,186.86, down 313.90 points, or 0.44 percent. It fell 835.26 points, or 1.16 percent, to 70,665.50 throughout the day.

The Nifty dropped to 21,462.25, down 109.70 points, or 0.51%. It fell 286.4 points, or 1.32%, to 21,285.55 throughout the day.

Following a recent rise that set new records, the markets saw a significant decline. Tuesday saw the BSE benchmark achieve an all-time high of 73,427.59 and the Nifty set a career high of 22,124.15.

In only three days, Nifty dropped 635 points, or 2.89 percent, to close below the crucial support level of 21,500 points, while Sensex shed 2,141 points, or around 3 percent.

HDFC Bank saw the biggest decline of 3.26 percent among Sensex companies. The private lender added 305 points to the decline, which saw it tumble more than 8% on Wednesday due to third-quarter earnings that were below expectations.

Among the top losers were Asian Paints, NTPC, Power Grid, Titan, IndusInd Bank, Nestle, and Maruti.

Nonetheless, profits were reduced by investments in Larsen & Toubro, Axis Bank, Tech Mahindra, Tata Motors, Reliance Industries, Sun Pharma, and Mahindra & Mahindra.

The BSE midcap gauge fell 0.08 percent in the overall market, while the smallcap index increased by 0.02 percent.

Consumer durables decreased by 2.07 percent, utilities fell by 1.70 percent, electricity fell by 1.30 percent, financial services fell by 0.82 percent, and services down by 0.58 percent among the indexes.

The winners included oil and gas, energy, healthcare, communications, and real estate.

Tokyo finished up lower in the Asian markets compared to Seoul, Shanghai, and Hong Kong, which ended up higher.

The state of the European markets was inconsistent. US stock markets had a decrease on Wednesday.

According to exchange statistics, foreign institutional investors (FIIs) offloaded stocks worth Rs 10,578.13 crore on Wednesday.

The benchmark for the BSE fell by 2,23 percent, or 1,628.01 points, on Wednesday, ending at 71,500.76. The Nifty fell 2.09 percent, or 460.35 points, to close at 21,571.95.

The benchmark for world oil, Brent crude, increased by 0.50 percent to USD 78.27 a barrel.