Share Market Today: Sensex, Nifty Trade Flat Amid Profit Booking. Metals, Auto Drag
Share market today: On the 30-share Sensex platform, Tata Steel, M&M, HDFC Bank, JSW Steel, SBI, Titan emerged lower
Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday are trading lower tracking profit booking in banks and mixed global trends amid volatility. At 9.50 am, the BSE Sensex dropped 44 points to 78,009. On the other hand, the NSE Nifty50 was trading at 23,699, down 22 points.
Stock update
On the 30-share Sensex platform, Tata Steel, M&M, HDFC Bank, JSW Steel, SBI, Titan emerged lower. On the flip side, UltraCemco, Kotak Bank, Reliance, Adani Ports, Tata Motors, NTPC were among the gainers.
In the broader markets, Nifty Smallcap advanced 0.33 per cent while Midcap dropped 0.13 per cent.
Sectoral update
Sectorally, Nifty metal was the top loser, down over 1.26 per cent, followed by healthcare falling 0.68 per cent. Selling can be seen in auto, bank, pharma, FMCG stocks also.
In the previous session on Tuesday, the S&P BSE Sensex closed at 78,053, rising 712 points, while the NSE Nifty50 settled with gains of 183 points at 23,721.
Global update
In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong quoted with gains. US markets ended mostly higher on Tuesday.
Global oil benchmark Brent crude climbed 0.45 per cent to $85.39 a barrel.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,175.91 crore on Tuesday, according to exchange data.
Rupee sees range-bound trading
Meanwhile, the rupee saw range-bound trading against the US dollar in early trade on Wednesday and fell 3 paise amid a negative trend in domestic equities. Forex traders said the strength of the American currency in the overseas market and elevated crude oil prices also weighed on the local unit and restricted the upmove.
At the interbank foreign exchange market, the local unit opened at 83.45 and lost further ground to trade at 83.46 against the greenback in initial deals, registering a decrease of 3 paise from its previous closing level. On Tuesday, the rupee appreciated 4 paise and settled at 83.46 against the greenback.
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally higher by 0.05 per cent at 105.66.
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