Share Market Today: Sensex, Nifty Close Flat Amid Volatility. Banks Gain 2 Per Cent

Share market today: On the 30-share Sensex platform, Titan, Airtel, Maruti, L&T, NTPC, Reliance were among the losers

Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday closed flat after a sharp sell-off during the fag-end trading. The BSE Sensex, which hit an all-time high of 77,852 in the intraday trade, closed marginally higher by 36 points at 77,337. On the other hand, the NSE Nifty50 ended at 23,516, down 42 points. It hit a record high of 23,664 during the day.

Stock update

On the 30-share Sensex platform, Titan, Airtel, Maruti, L&T, NTPC, Reliance were among the losers. On the flip side, Axis Bank, HDFC Bank, ICICI Bank, Kotak Bank, IndusInd Bank, SBI emerged gainers.

In the broader markets, the BSE Midcap index dropped 1 per cent and Smallcap index shed 0.6 per cent.

Sectoral update

Sectorwise, Nifty Bank closed 2 per cent higher, hitting a record high of 51,957 intraday. IT rose 0.4 per cent. While the other indices closed in the red with auto, capital goods, metal, oil & gas, power and realty down 1-3 per cent.

In the previous session on Tuesday, the BSE Sensex closed at 77,302, up 309 points. On the other hand, the NSE Nifty50 ended at 23,558, up 92 points.

Global update

In Asian markets, Seoul, Tokyo and Hong Kong settled higher, while Shanghai ended lower. European markets were trading lower in mid-session deals. US markets ended in positive territory on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,569.40 crore on Tuesday, according to exchange data.

Global oil benchmark Brent crude declined 0.22 per cent to USD 85.14 a barrel.

Rupee dips 1 paise

Meanwhile, the rupee paired its initial gains and settled 1 paisa lower at 83.44 (provisional) against the US dollar on Wednesday in sink with the domestic equity markets that turned choppy at the fag-end of the session.

Forex traders said the gaining momentum in the local unit was snapped by a firm American currency and higher level of crude oil prices in the overseas market.

At the interbank foreign exchange market, the local unit opened strong at 83.39 and moved in the range of 83.34 and 83.48 against the greenback during the session. The local unit finally settled at 83.44 (provisional) against the American currency, registering a loss of 1 paisa from previous closing level.

On Tuesday, the rupee had settled 12 paise higher at 83.43 against the US dollar.