Share Market Today: Sensex, Nifty Pare Early Gains; Trade Flat Amid Volatility. Banks, Realty Rise

Share market today: The two key equity benchmarks, Sensex and Nifty, on Thursday erased their early gains and turned flat due to lack of triggers amid volatility. At 10.30 am, the BSE Sensex marginally dipped 8 points to 77,330. On the other hand, the NSE Nifty50 was trading at 23,519, up 3 points.

Stock update

On the 30-share Sensex platform, Kotak Bank, JSW Steel, Tata Steel, Reliance, HUL, UltraCemco emerged gainers. On the down side, Sun Pharma, M&M, PowwrGrid, Bajaj twins, Titan were among the losers.

In the broader markets, the BSE Midcap index jumped 0.47 per cent while the BSE Smallcap advanced 0.70 per cent.

Sectoral update

Sectorwise, selling can be seen in the healthcare, capital goods and IT sectors, while metal, bank, oil & gas and realty are trading in the green zone. Nifty Bank, Private Bank, and Realty indices added up to 1.3 per cent. Nifty Pharma fell 0.5 per cent.

In the previous session on Thursday, the BSE Sensex closed marginally higher by 36 points at 77,337, while the NSE Nifty50 ended at 23,516, down 42 points.

Global update

In Asian markets, Seoul traded in the green while Tokyo, Shanghai and Hong Kong quoted lower. US markets markets were closed on Wednesday in observance of Juneteenth.

Foreign Institutional Investors (FIIs) bought equities worth Rs 7,908.36 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.64 per cent to $85.07 a barrel.

Rupee slips 4 paise

Meanwhile, the rupee fell 4 paise to 83.48 against the US dollar on Thursday due to firm American currency and an upward trend in crude oil prices overseas. The local unit resisted the fall amid the unabated inflow of foreign capital but gave in to the pressure due to a muted trend in the domestic equity markets, forex traders said.

At the interbank foreign exchange market, the local unit opened at 83.43 and lost further to 83.48 against the greenback, registering a fall of 4 paise from its previous close.

On Wednesday, the rupee settled 1 paisa lower at 83.44 against the US dollar. "The local currency's upward momentum was halted by a strong US dollar and rising crude oil prices in the international market," said Anand James, Chief Market Strategist, Geojit Financial Services.