Image Source : PTI Stock market update for January 28.
Stock markets update: Equity benchmark indices opened higher in early trade on Tuesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 402.45 points to 75,768.62. Meanwhile, the Nifty was also up by 104.65 points to 22,933.80.
Today, investors have their eyes on key stocks, including Emami, Piramal Enterprises, Prudent Corporate Advisory Services, Updater Services, RailTel Corporation of India, Union Bank of India, Prataap Snacks, Mahindra Logistics, Petronet LNG, Maharashtra Seamless, Aditya Birla Sun Life AMC, Tata Power Company, and Samman Capital.
Top gainers and losers
At the start of today’s trading session, Axis Bank, Bajaj Finance, Infosys, HDFC Bank, and ICICI Bank emerged as the top gainers. On the other hand, UltraTech Cement, PowerGrid, NTPC, M&M, and Sun Pharma saw the most losses. Among the Nifty 50, Shriram Finance, Wipro, Axis Bank, Infosys, and HDFC Bank led the gainers, while Sun Pharma, Dr Reddy’s, Cipla, M&M, and Grasim were the top losers.
In today’s session, the Nifty Midcap 100 opened 212.85 points higher at 52,008.75, while the Nifty Midcap 50 rose by 46.80 points to 14,473.85. The Nifty Smallcap 50 gained 11.40 points, trading at 7,789.30.
Rupee against dollar
Meanwhile, the rupee depreciated 26 paise to 86.57 against the US dollar in early trade on Tuesday, due to unabated dollar demand from oil importers and weak risk appetite. Forex traders said the rupee continued to face pressure due to sustained foreign fund outflows and the strength of the American currency in the overseas market.
Moreover, the upcoming Union Budget will play a crucial role in shaping market sentiment and the rupee’s trajectory, as expectations are high for favourable measures aimed at rekindling foreign investments. At the interbank foreign exchange, the rupee opened at 86.53 then fell further to 86.57 against the American currency, registering a decline of 26 paise over its previous close.
(With PTI inputs)
