Sensex jumps 677 points to close at 81,796: Nifty also gains 227 points; banking and IT stocks lead the rally.

Stock market saw gains today, June 16. The Sensex closed 677 points higher at 81,796. The Nifty also rose by 227 points, ending the day at 24,946.

Out of the 30 Sensex stocks, 27 closed in the green while 3 declined. Gains were seen in energy, banking, IT, and FMCG stocks. Shares of Tech Mahindra, ITC, and Infosys closed around 2% higher.

Mixed trend in Asian markets:

• Japan’s Nikkei gained 477 points (1.26%) to close at 38,311

• South Korea’s KOSPI rose 52 points (1.80%) to 2,946

• Hong Kong’s Hang Seng Index rose 168 points (0.70%) to 24,060

• China’s Shanghai Composite gained 11 points (0.35%) to end at 3,388

On June 13, US markets closed lower:

• Dow Jones dropped 1.79% to 42,197

• Nasdaq Composite fell 1.30% to 19,406

• S&P 500 slipped 1.13% to 5,976

Investment opportunity in Oswal Pumps IPO:

The IPO of Oswal Pumps, a company that manufactures pumps and motors, opened on June 13 and will remain open until June 17. Shares will be listed on BSE and NSE on June 20.

Through the IPO, the company aims to raise ₹1,387.34 crore. Out of this, ₹890 crore will be raised through fresh issue of shares, and ₹497.34 crore through offer for sale (OFS).