Bourses start 2024 with modest gain, Sensex up 32 points, Nifty gains 11 points

Mumbai: Equity benchmark indices Sensex and Nifty kicked off 2024 on a flat note, with the 30-share index closing with marginal gains following some buying in energy, services and telecom counters.

In a highly volatile trade, the BSE gauge eked out a modest gain of 31.68 points or 0.04 per cent to settle at 72,271.94 after a muted beginning. During the day, it hit a low of 72,031.23 and a high of 72,561.91, its lifetime intraday peak.

The Nifty went rose 10.50 points or 0.05 per cent to 21,741.90.

In 2023, the BSE benchmark jumped 11,399.52 points or 18.73 per cent, and the Nifty climbed 3,626.1 points or 20 per cent.

On the Sensex chart, Nestle, Tech Mahindra, HCL Technologies, Tata Motors, Wipro and ITC were among the winners.

In contrast, Bharti Airtel, Mahindra & Mahindra, Bajaj Finserv, HDFC Bank, NTPC and Hindustan Unilever were among the laggards.

Asian and European markets were closed on Monday for the New Year.

The US markets ended marginally lower on Friday.

Global oil benchmark Brent crude declined 0.14 per cent to USD 77.04 a barrel.

According to exchange data, Foreign Institutional Investors (FIIs) bought equities worth Rs 1,459.12 crore on Friday.

The BSE benchmark fell 170.12 points or 0.23 per cent to settle at 72,240.26 on the last trading day of 2023 on Friday. The Nifty declined 47.30 points or 0.22 per cent to settle at 21,731.40. 

Rupee down 

 Mumbai: The rupee started the new year on a weak note, depreciating by 6 paise to 83.22 against the US dollar amid a muted trend in domestic equities and dollar demand from importers.

Forex traders said the rupee traded in a narrow range in the absence of global cues. Global crude oil markets were closed for New Year Day holiday.

At the interbank foreign exchange market, the local unit opened at 83.18 and finally settled at 83.22 (provisional) against the dollar, down by 6 paise from its previous close.

On Friday, the rupee appreciated 4 paise to settle at 83.16 against the US dollar on the last trading day of 2023.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.05 per cent up at 101.38.

The forex reserves continued to rise for the third consecutive week, adding $4.471 billion more in the week ending December 22, taking the total to $ 620.441 billion, according to the weekly data released by the Reserve Bank on Friday.

In the previous reporting week, the kitty had swollen by $ 9.112 billion to $ 615.971 billion, making the quantum of increase one of the highest in a week. In the week before, the overall reserves had risen by $2.816 billion to $ 606.859 billion. PTI DRR MR

Oil slips 

 New Delhi: Crude oil futures on Monday declined 0.17 per cent to Rs 5,997 per barrel as participants trimmed their positions on low demand.

On the Multi Commodity Exchange, crude oil for January delivery fell Rs 10 or 0.17 per cent to Rs 5,997 per barrel with a business volume of 14,868 lots.

Globally, West Texas Intermediate crude oil traded 0.17 per cent lower at USD 71.65 per barrel, while Brent crude was trading down 0.14 per cent at USD 77.04 per barrel in New York on Friday. 

Gold up New Delhi: Gold prices on Monday climbed Rs 136 to Rs 63,339 per 10 grams in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for February delivery traded higher by Rs 136 or 0.22 per cent at Rs 63,339 per 10 grams in a business turnover of 15,152 lots.

Fresh positions built up by participants led to a rise in gold prices, analysts said.

Gold futures fell 0.56 per cent to $2,071.80 per ounce in New York on Friday.