Stock Market Ends Flat: Sensex Dips 78 Points, Nifty At 19,665. PSU Bank, IT Drag; FMCG Gains


The two key equity benchmarks, Sensex and Nifty, on Tuesday again closed flat amid volatility in a directionless market. The BSE Sensex closed at 65,945, down 78 points. On the other hand, the NSE Nifty shut shop at 19,665, down 10 points.

On the 30-share Sensex platform, TechM, IndusInd Bank, Infosys, Asian Paints, ICICI Bank, Kotak Bank were among the losers. On the upside, Nestle, Tata Steel, M&M, Bajaj Finance, HDFC Bank, NTPC emerged gainers. Shares of Eicher Motors, the listed parent company of Royal Enfield, and TVS Motor Company were in focus and rallied up to 4 per cent on the BSE in Tuesday’s intra-day trade after overseas brokerage firm Jefferies said it prefer these two stocks over Bajaj Auto and Hero MotoCorp in two-wheelers (2W) segment.

In the broader markets, the BSE Midcap index ended on a flat note, while the Smallcap index added 0.3 per cent.

Sectorally, except bank, pharma and IT, all other indices ended in the green with FMCG index up 0.5 per cent.

In the previous session on Monday, the S&P BSE Sensex ended 15 points higher at 66,024, while the Nifty50 settled unchanged at 19,676.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended lower. European markets were trading on a mixed note. The US markets ended in positive territory on Monday.

Global oil benchmark Brent crude declined 0.79 per cent to $92.55 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,333.03 crore on Monday, according to exchange data.

Meanwhile, the rupee stayed on the downward track for the second straight day to settle 14 paise lower at 83.27 (provisional) against the US dollar on Tuesday due to a firm greenback against major currencies overseas and persistent foreign capital outflows. Besides, weak equity market sentiment and elevated levels of crude oil prices, hovering above $92 a barrel, weighed on the domestic currency, forex traders said.

At the interbank foreign exchange, the domestic unit opened at 83.19 and traded between a high of 83.17 and a low of 83.27 against the greenback during the day. It finally settled at 83.27 (provisional), registering a fall of 14 paise from its previous close.

On Monday, the rupee declined by 19 paise to close at 83.13 against the dollar. Analysts attributed the downward movement of the rupee to a strengthening dollar amid weak Asian markets and rising US Treasury yields.


Source link

Leave a Reply