Image Source : INDIA TV Stock markets update for January 21.
Stock market update: Equity benchmark indices opened higher on Tuesday morning amid mixed global cues following the inauguration of President Donald Trump. In the early trade, the 30-share BSE Sensex rose 73 points to 77,146.49. Meanwhile, the Nifty was also up by 68.15 points to 23,412.90.
On the 30-stock BSE Sensex, only eight stocks were trading in the red after the market opened. Losses were led by Zomato, which saw a sharp decline of 8.01%, followed by Bharti Airtel, NTPC, Kotak Mahindra Bank, and Adani Ports & SEZ. On the other hand, UltraTech Cement spearheaded the gains with a rise of 2.01%, closely followed by Titan, Nestle India, ITC, and Tata Motors.
The Nifty 50 also showed a positive breadth, with 35 stocks trading higher. Apollo Hospital Enterprises led the pack with a gain of 2.48%, followed by UltraTech Cement, Wipro, BPCL, and Sun Pharma. Meanwhile, losses were capped by Adani Enterprises (down 0.67%), Trent, ONGC, Kotak Mahindra Bank, and NTPC.
Sectoral performance
Sectorally, the market presented a mixed picture. The Nifty Consumer Durables index emerged as the biggest drag, slipping by 1.23%, with the Realty index (-0.92%) and PSU Bank (-0.23%) also under pressure. The Nifty Bank and Private Bank indices showed marginal declines of 0.05% and 0.04%, respectively.
Rupee against dollar
Meanwhile, the Rupee appreciated 17 paise to 86.28 against the US dollar in morning trade on Tuesday, as the US dollar index and crude oil prices retreated from their elevated levels. Forex traders said the dollar weakened from its 109 levels but clawed back to 108.31 as Donald Trump declared tariffs against Canada and Mexico in the near future but stopped short of declaring any tariffs against China.
While uncertainty eased slightly, concerns regarding tariffs still lingered in the background, as the traders began to adjust their expectations, betting that even if tariffs were imposed, they would likely be less aggressive, traders said. At the interbank foreign exchange, the rupee opened at 86.28, registering a rise of 17 paise from its previous close of 86.45 against the greenback. The local unit also touched 86.43 against the US dollar initial trade.
(With PTI inputs)
