Stock Market News Today: Sensex, Nifty Pare Early Gains; Trade Flat Amid Volatility

Stock Market News Today: On the 30-share Sensex platform, PowerGrid, Axis Bank, Nestle, Bajaj Finance, TechM, Titan emerged losers

Stock Market News Today: In the broader markets, the BSE Midcap and Smallcap indices were outperforming the frontline indices climbing 0.8 per cent each.

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Stock Market News Today: The two key equity benchmarks, Sensex and Nifty, on Thursday pared early gains. The domestic indices are trading flat amid volatility. At 10.30 am, the 30-share BSE Sensex was trading at 72,947, marginally up 4 points. On the other hand, the NSE Nifty50 was trading at 22,167, up 19 points.

Stock update

On the 30-share Sensex platform, PowerGrid, Axis Bank, Nestle, Bajaj Finance, TechM, Titan emerged losers. On the flip side, PowerGrid, M&M, Tata Steel, IndusInd Bank, L&T, Airtel were among the gainers.  

In the broader markets, the BSE Midcap and Smallcap indices were outperforming the frontline indices climbing 0.8 per cent each.

Sectoral update

Sectorwise, except FMCG and healthcare, all other indices are trading in the positive zone, with auto, capital goods, power, oil & gas, realty fell 0.5-1 per cent.

In the previous session on Tuesday, the BSE Sensex declined 456 points at 72,944, while the NSE Nifty50 closed 125 points lower at 22,148. Markets remained shut on Wednesday on occasion of Ram Navami.

Global markets update

In Asian financial markets, major indices in Seoul, Tokyo, Shanghai, and Hong Kong experienced positive gains. However, Wall Street closed on a down note on Wednesday.

Global oil benchmark Brent crude rose by 0.29 per cent to $87.54 per barrel.

Foreign Institutional Investors (FIIs) divested equities worth Rs 4,468.09 crore on Tuesday, as per exchange data.

Rupee rises 12 paise

Meanwhile, the Indian rupee, after hitting all-time low levels, strengthened by 12 paise to 83.49 against the US dollar in early trading on Thursday. This rebound was driven by strong domestic equity markets and gains in Asian currencies. Forex traders noted that the rupee's appreciation was due to the US dollar's retreat from its recent highs.

At the interbank foreign exchange market, the rupee began trading at 83.51 against the US dollar and later improved to 83.49 during initial trading, marking a rise of 12 paise from its previous close. On Tuesday, the rupee fell by 17 paise, reaching its lowest level of 83.61 against the US dollar for the second time in a month. Forex and money markets were closed on Wednesday in observance of 'Ram Navami.'