Stock Market Today: Sensex, Nifty End Flat Amid Profit-Booking. PSU Banks UP


The two key equity benchmarks, Sensex and Nifty, on Wednesday ended in the red for the second straight session due to profit-booking in select banking and auto stocks. The 30-share BSE Sensex fell by 27 points to close at 73,877. On the other hand, the NSE Nifty50 settled at 22,435, down 19 points.

Stock updates

On the 30-share Sensex platform, Nestle, Kotak Bank, Titan, JSW Steel, Bajaj Finserv, IndusInd Bank were among the losers. On the upside, NTPC, TCS, TechM, Axis Bank, Airtel, Bajaj Finance emerged gainers.

In the broader markets, the BSE Midcap closed 0.6 per cent higher, while the BSE Smallcap gained 1.2 per cent.

Sectoral updates

Sectorwise, Nifty Realty index dropped 2.6 per cent. Nifty FMCG also dipped 0.4 per cent. Meanwhile, Nifty PSU Bank rose 1.8 per cent.

In the previous session on Tuesday, the BSE Sensex declined by 111 points to 73,904, while the NSE Nifty50 ended 8.70 points lower at 22,453.

“Nifty remained volatile throughout the day after an initial weak start due to negative global cues,” said Rupak De, Senior Technical Analyst, LKP Securities.

Global Markets

Asian markets experienced declines in trading, with Hong Kong’s Hang Seng and Japan’s Nikkei 225 seeing significant drops of 1.22 per cent and 0.97 per cent, respectively. Similarly, China’s Shanghai Composite registered a loss of 0.18 per cent.

In contrast, European markets showed mixed results as France’s CAC 40 and Germany’s DAX traded positively, while London’s FTSE 100 faced losses. The US markets closed in the red on Tuesday.

According to exchange data, Foreign Institutional Investors (FIIs) divested equities worth Rs 1,622.69 crore on Tuesday.

Brent crude, the global oil benchmark, saw a modest increase of 0.31 per cent, reaching $88.20 per barrel.

Rupee Falls 3 Paise

Meanwhile, the Indian rupee depreciated by 3 paise to end at 83.45 (provisional) against the US dollar on Wednesday. This decline was attributed to heightened crude oil prices in international markets and continuous outflows of foreign funds. Additionally, a lackluster performance in domestic equities contributed to dampened investor confidence, as noted by forex traders.

In the interbank foreign exchange market, the rupee opened at 83.36, fluctuating between an intraday low of 83.45 and a high of 83.36 against the dollar. Ultimately, it settled at 83.45 (provisional), marking a 3-paise loss from its previous close. On Tuesday, the rupee remained within a narrow range, closing 3 paise lower at 83.42 against the American currency.

ALSO READ | UPI Transactions Surge By 56% As Average Ticket Size Declines 8%: Study


Source link