Stock Market Today: Sensex Rallies To Close At 66,265, Nifty Crosses 19,700

At 10:08, Sensex was trading 0.17 per cent lower than its previous close at 65,767. Nifty 50 reached 19,579, a decline of 0.16 per cent. Both the indices are trading flat after the opening hour

Here are experts views on the stock markets today:

Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, says, "The market has turned excessively volatile responding to fast changing incoming data. DIIs have been consistent buyers on the back of good flows to domestic mutual funds. But FIIs have been consistently selling in the cash market this month with a net sell figure of Rs 7,850 crores. The FII selling has been triggered by the rising US bond yields and the strengthening dollar. With the yield from the US 10-year at 4.29% and 2-year at 5%, the FIIs are likely to sell further impacting market sentiments."

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher, shares technical view on Nifty today, "Nifty witnessing some volatility during the intraday session maintained the 19500 zone strong near-term support zone and recovered strongly in the second half to close above of 19600 levels further improving the bias and sentiment."

Sensex and Nifty remain in the green with marginal gains of 0.01 and 0.02 per cent respectively. At 12:04, Sensex was at 65,890 and Nifty touched 19,614.

Sensex closed at 66,265.56, increasing by 385 points compared to the previous close, while Nifty ended the day at 19,727.05 after a rally of 116 points. S Ranganathan, Head of Research at LKP securities, says, "Benchmark Indices staged a smart afternoon rally today with the help of PSU & Infrastructure stocks. With a 13.5% share of the market capitalisation, PSU companies have seen a robust jump from just over 9% in 2021even as several Midcap State Owned Entities have seen a multi-fold rise in their stock values during this period. ETF Flows during the late afternoon also helped Large-Caps recover lost ground"