Sensex and Nifty, the two key equity benchmarks, on Monday opened flat amid mixed global cues and tepid foreign flows. However, recovered soon after as both the domestic indices were trading in the green in early trade.
At 9.55 am, the BSE Sensex was up 86 points to 61,424, while the broader NSE Nifty was trading at 18,313, up 44 points.
On the 30-share Sensex platform, PowerGrid was the top gainer, followed by Airtel, ITC, Nestle, Bajaj twins, and others. On the flip side, Infosys was the main loser, while the others were Tata Motors, Sun Pharma, HDFC Bank, IndusInd Bank, L&T, TCS, and Wipro.
#ABPLiveStockMarketWatch | Indian equity benchmarks opened in green on Monday early trade
At 09:48 AM, #Sensex went up by 175 points to 61,512 & #Nifty went up by 32 points to 18,301
Here’s a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/KKmWJsx9Sq
— ABP LIVE (@abplive) December 19, 2022
In the broader markets, Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.2 per cent.
Sectorally, Nifty PSU Bank and Nifty Media started trade on a positive note. Nifty Auto, Nifty IT, Nifty Pharma indices, however, declined up to 1 per cent.
Among individual stocks, shares of Ashoka Buildcon gained over 2 per cent after subsidiaries sold stake in Jaora Nayagaon Toll Road to NIIF.
In the previous session on Friday, the BSE benchmark fell 461 points (0.75 per cent) to settle at 61,338, while the NSE Nifty declined 146 points (0.79 per cent) to end at 18,269.
Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai, and Hong Kong were trading lower. The US markets had ended lower on Friday.
Meanwhile, the rupee depreciated 2 paise to 82.77 against the US dollar in early trade on Monday weighed down by foreign capital outflows and a rise in crude oil prices in the international market. However, a weak greenback against major rivals overseas cushioned the downside for the local unit, forex dealers said.
At the interbank foreign exchange, the domestic unit opened weak at 82.80 against the dollar, then gained some ground to quote 82.77, registering a decline of just 2 paise over its previous close. In the previous session on Friday, the rupee settled almost flat at 82.75 against the US dollar.
Brent crude futures, the global oil benchmark, advanced 1.20 per cent to $79.99 per barrel.