Share Market Today: Sensex, Nifty End Flat Amid Volatility After Hitting Record Highs

Share Market Today: On the 30-share Sensex platform, Wipro loses 2.36 per cent. NTPC, Sun Pharma, M&M, ITC, Reliance were among the other losers

Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday settled in the red amid volatility after hitting new record highs for a third straight day. The BSE Sensex index, which hit a lifetime high of 76,010, closed at 75,391, down 20 points. On the other hand, the NSE Nifty50 that touched a new high of 23,111, closed at 22,932, down 25 points.

Stock update

On the 30-share Sensex platform, Wipro loses 2.36 per cent. NTPC, Sun Pharma, M&M, ITC, Reliance were among the other losers. On the flip side, IndusInd Bank, Axis Bank, Bajaj Finance, HDFC Bank, L&T, SBI emerged gainers.

In the broader markets, the BSE Midcap index hit a new all-time high of 43,985 intraday, but ended at 43,784, up 0.63 per cent. The Smallcap closed 0.09 per cent lower.

Sectoral update

Sectorally, Nifty PSU Bank index advanced over 1 per cent, Nifty Bank 0.6 per cent, while Nifty Realty jumped 0.85 per cent.

In the previous session on Friday, BSE Sensex dropped 8 points to settle at 75,410 and th NSE Nifty50 ended with a marginal decline of 11 points at 22,957.

"Nifty remained mostly volatile during the day as India awaits the final phase of the general election (on June 1)," Rupak De, Senior Technical Analyst, LKP Securities said.

Global update

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory. European markets were also quoting in the green. Wall Street ended with gains on Friday.

Global oil benchmark Brent crude climbed 0.38 per cent to $82.44 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 944.83 crore on Friday, according to exchange data.

Rupee dips 4 paise

Meanwhile, the rupee pared its initial gains and settled for the day lower by 4 paise at 83.14 (provisional) against the US dollar on Monday, mirroring the benchmark indices that erased their gains and ended the day off their record-high levels.

Forex traders said the rupee settled in a narrow range as the weakness of the American currency in the overseas market supported the rupee, while elevated crude oil prices in the international market restricted the upmove.

At the interbank foreign exchange, the local unit opened at 83.08, then touched an intra-day high of 83.05 but soon pared the gains and settled for the day lower by 4 paise at 83.14 (provisional) against the American currency. On Friday, the rupee rallied for the fourth consecutive trading session and settled with a sharp gain of 19 paise at 83.10 against the US dollar.