Stock Market Today: Sensex Surges Over 800 Points, Nifty Above 16,500 Amid Strong Global Cues

At 9:26 am the BSE Sensex surged by 819 points or 1.49 per cent at 55,703, whereas the Nifty 50 index advanced 227 points or 1.39 per cent at 16,580.

Outlook Business Team

Updated on: 30 May 2022 9:39 am

The Indian equity benchmarks opened higher in early trade on Monday as indicated by the SGX index. At 9:26 am the BSE Sensex surged by 819 points or 1.49 per cent at 55,703, whereas the Nifty 50 index advanced 227 points or 1.39 per cent at 16,580.

Barring metal stocks, all other sectoral indices witnessed strong buying with the stocks 0f IT, auto, and consumer durables leading the pack. The Nifty Midcap 50 index advanced 1.18 per cent at 7,683, whereas the Nifty Midcap 100 index advanced 1.19 per cent at 27,985.

Amongst the Nifty 50 companies, Infosys, Wipro, Tata Motors, UPL, and HCL Technologies were the top gainers, whereas JSW Steel, NTPC, Apollo Hospitals, and Hindalco were the top losers. Amongst the BSE-listen companies, Infosys, HCL Technologies, Titan and Wipro were the top gainers, whereas Kotak Bank was the only loser.

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The foreign institutional investors (FII) remained the net sellers worth Rs 1,943 crore on Friday, whereas the domestic institutional investors (DII) remained the net buyers' worth Rs 2,727 crore.

The major indices on Asian Markets were trading higher on Monday. Japan’s Nikkei 225 advanced 1.82 per cent, whereas Hang Seng surged 1.30 per cent. While South Korea’s KOSPI rose 1.04 per cent, the Shanghai Composite index edged 0.20 per cent. The Shenzhen Composite index advanced 0.64 per cent.

Meanwhile, the major indices in the US advanced higher on Friday, thus breaking seven-week losing streak. The S&P 500 surged 100 points or 2.5 per cent, whereas the Dow Jones Industrial Average advanced 575 points or 1.8 per cent led by strong buying in the technology stocks. The Nasdaq composite advanced 390 points or 3.3 per cent.

The crude oil rose to a two-month high in early trade on Monday as European Union continues to mull over the ban on Russian oil. The Brent crude futures advanced 46 points or 0.4 per cent to $119 per barrel. The US West Texas Intermediate (WTI) crude futures surged 60 cents or 0.5 per cent at $115.67 per barrel. The rupee advanced 3 paise to close at 77.58 against the US dollar on Friday.

Life Insurance Corporation (LIC), Mahindra and Mahindra, Nykaa, ITC, Jubilant Foodworks, Aurobindo Pharma, Sun Pharma, SpiceJet, Jindal Steel, Delhivery, Ethos, and Campus Activewear are the stocks that will remain in focus today owing to their quarterly earnings.