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business/news//India TV News
The 30-share BSE Sensex added 720.47 points or 0.95 per cent to start the session at 76,135.82.
Crude oil prices dipped below USD 100, influencing the positive start of Indian indices.
KEY POINTS
M&M led Sensex gainers with a 2.20 per cent rise in early trade.
TCS was the biggest Sensex loser, down over 0.69 per cent at session start.
Gift Nifty opened with a 199-point gain, signaling bullish sentiment for Nifty 50.
FIIs sold equities worth Rs 4,440.47 crore while DIIs bought Rs 6,003.53 crore on May 22.
Mumbai:
Indian equity benchmark indices, the Sensex and Nifty, started the week on a strong note amid firm global cues, with crude oil dipping below USD 100. While the 30-share BSE Sensex added 720.47 points or 0.95 per cent to start the session at 76,135.82, the Nifty added 220.95 points to open at 23,940.25. In the last trading session, the Sensex closed at 75,415.35 and the Nifty 50 at 23,719.30. Similarly, the broader indices traded in the red in the opening session. While the BSE Midcap Select Index was up by 163.92 points, the BSE Smallcap Select Index added 75.09 points or 0.90 per cent, to trade at 8,442.29.
From the Sensex pack, M&M, Bajaj Finance, Eternal, L&T, and HDFC Bank were in green with M&M leading the pack by gaining 2.20 per cent in the early trade. On the other hand, TCS and Sun Pharma were among the top losers, with TCS the biggest loser, down over 0.69 per cent.
In early trade, market breadth was positive, with 2,113 stocks advancing against 370 stocks declining on the NSE. 114 stocks remained unchanged.
What did Gift Nifty indicate?
Gift Nifty, an early indicator for the Nifty 50, hinted at a positive start as it opened with a gain of 199 points at 23,890, compared to the previous close of 23,691. Foreign Institutional Investors (FIIs) remained net sellers and offloaded equities worth Rs 4,440.47 crore on May 22. Domestic Institutional Investors (DIIs) remained buyers and purchased equities worth Rs 6,003.53 crore.
"The near-term market outlook remains positive, supported by strong global cues, improving risk appetite, and continued domestic institutional support," said Hitesh Tailor, Research Analyst, Choice Equity Broking Private Limited.
Asian Markets Today
Asian equities edged higher as oil prices declined after US officials signalled a potential agreement with Iran to reopen the Strait of Hormuz and resume crude supplies. Japan's Nikkei 225 was up by 1,995.93 points or 3.15 per cent at 65,326 at the time of writing the report. Hong Kong's Hang Seng was up by 217.42 points or 0.85 per cent. Similarly, Shanghai's SSE Composite index was up by 23.35 points or 0.57 per cent.