Share Market Today: Sensex, Nifty Trade Flat. Metal Shines; Axis Bank, Nestle Drag

Share Market Today: On the 30-share Sensex platform, Axis Bank, Nestle, Asian Paints, TCS, ICICI Bank, ITC emerged losers. JSW Steel, M&M, NTPC, Maruti, PowerGrid, Titan were among the gainers

Share Market Today: In the broader markets, the BSE Midcap and Smallcap indices advanced 0.39 per cent and 0.92 per cent, respectively.

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Share Market Today: The two key equity benchmarks, Sensex and Nifty, on Tuesday pared early gains and are trading flat. At 10.10 am, the BSE Sensex dipped 18 points to 72,758. On the other hand, the NSE Nifty50 was trading at 22,098, down 6 points.

Stock update

On the 30-share Sensex platform, Axis Bank, Nestle, Asian Paints, TCS, ICICI Bank, ITC emerged losers. On the flip side, JSW Steel, M&M, NTPC, Maruti, PowerGrid, Titan were among the gainers.

In the broader markets, the BSE Midcap and Smallcap indices advanced 0.39 per cent and 0.92 per cent, respectively.

Sectoral update

Sectorwise, Nifty Metal and Nifty Energy indices were the top performers. Nifty PSU Bank gained 1 per cent, while Realty jumped 0.8 per cent.

In the previous session on Monday, the S&P BSE Sensex ended at 72,776, up 112 points, while the NSE Nifty50 closed at 22,104, up 49 points.

In April, retail inflation saw a decline to its lowest point in 11 months, registering at 4.83 percent, as indicated by government data released on Monday. This drop was attributed to a decrease in prices of certain kitchen essentials, although overall food prices showed a slight increase.

Global market update

Across Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong experienced a dip in their indices. Wall Street closed with a mixed performance on Monday.

The global oil benchmark Brent crude saw a slight increase of 0.12 percent, reaching $83.46 per barrel.

According to exchange data, Foreign Institutional Investors (FIIs) divested equities worth Rs 4,498.92 crore on Monday.

Rupee opens on flat note 

Meanwhile, the Indian rupee commenced trading against the US dollar on Tuesday with minimal change, influenced by the strength of the American currency in the global market and higher crude oil prices. Forex analysts noted that the rupee is facing pressure due to ongoing elections and foreign fund outflows, which is expected to ease once the election results are announced.

In the interbank foreign exchange market, the rupee traded within a narrow range, opening at 83.51 against the US dollar, unchanged from the previous day's close. On Monday, the rupee remained stable, settling at 83.51 against the US dollar.