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  5. Stock markets update: Sensex surges 212 points, Nifty up by 48 points to 22,577 in early trade

Stock markets update: Sensex surges 212 points, Nifty up by 48 points to 22,577 in early trade

In the early trade, the 30-share BSE Sensex climbed 212.21 points to 74,165.52. Meanwhile, the Nifty was also up by 48.35 points to 22,577.40.

Edited By: Anurag Roushan @Candid_Tilaiyan Mumbai Updated on: May 22, 2024 10:41 IST
Stock markets update
Image Source : INDIA TV Stock markets update for May 22.

Stock markets update: Equity benchmark indices opened higher in early trade on Wednesday amid positive global cues. In the early trade, the 30-share BSE Sensex climbed 212.21 points to 74,165.52. Meanwhile, the Nifty was also up by 48.35 points to 22,577.40.

Major gainers and laggards

Among the Sensex firms, Reliance Industries, NTPC, Hindustan Unilever, Asian Paints, Nestle and ITC were the major gainers. State Bank of India, Power Grid, JSW Steel and Mahindra & Mahindra were among the laggards. In Asian markets, Seoul, Shanghai and Hong Kong were trading in the positive territory while Tokyo quoted lower. Global oil benchmark Brent crude declined 0.69 per cent to USD 82.31 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,874.54 crore on Tuesday, according to exchange data.

Rupee against dollar 

Meanwhile, the rupee appreciated by 7 paise to 83.24 against the US dollar on Wednesday amid softening crude oil prices in the international market. Forex traders said the local unit faced some resistance due to subdued sentiment in the domestic equity market and foreign fund outflows. At the interbank foreign exchange market, the local unit opened at 83.29 and inched up further to trade at 83.24 against the greenback, registering a gain of 7 paise from its previous closing level. On Tuesday, the rupee appreciated 6 paise to close at 83.31 against the US dollar.

(With PTI inputs)

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