Stock Market: Sensex And Nifty Trade Flat Amid Volatility. Bajaj Finance Slips Over 1%; Realty Drags

Stock update: On the 30-share Sensex platform, Bajaj Finance, PowerGrid, ICICI Bank, HDFC Bank, NTPC, HUL emerged main losers

In the broader markets, BSE Midcap and Smallcap indices gained 0.2 per cent and 0.4 per cent, respectively.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Wednesday were trading flat amid volatility on account of geopolitical conflicts and India Inc's September quarter (Q2) results. At 9.50 am, the BSE Sensex slipped 53 points to 66,374. On the other hand, the NSE Nifty50 was trading at 19,809, down 2.25 per cent.

On the 30-share Sensex platform, Bajaj Finance, PowerGrid, ICICI Bank, HDFC Bank, NTPC, HUL emerged main losers. On the flip side, Sun Pharma, Tata Motors, ITC, JSW Steel, IndusInd Bank, Maruti, Infosys were among the gainers.

Among specific stocks, Bajaj Finance dropped 1.6 per cent after it logged a 28 per cent year-on-year (YoY) growth in consolidated net profit for Q2FY24 at Rs 3,551 crore. Shares of Housing Urban Development Corpo­ration tumbled 8.8 per cent as the government began selling 7 per cent stake in Hudco through the offer for sale (OFS) route.

#ABPStockMarketWatch | Sensex and Nifty were trading in the red amid sluggish global trends, on Wednesday

At 11:50 AM, #Sensex dipped by 350 points to 66,078 & #Nifty by 82 points to 19,729

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/P9t4o7mXtU

— ABP LIVE (@abplive) October 18, 2023

In the broader markets, BSE Midcap and Smallcap indices gained 0.2 per cent and 0.4 per cent, respectively.

Sectorally, except realty and bank all other sectoral indices are trading in the green. Nifty Financial Services dipped 0.4 per cent, followed by the Nifty Private Bank. On the other hand, Nifty Media index added 0.7 per cent.

In the previous session, the S&P BSE Sensex surged 261 points to end at 66,428, while the NSE Nifty50 shut shop at 19,812, up 80 points.

In Asian markets, Tokyo, Shanghai, and Hong Kong were trading in the negative territory while Seoul quoted in the green. The US markets had ended on a mixed note on Tuesday.

Global oil benchmark Brent crude jumped 1.87 per cent to $91.58 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 263.68 crore on Tuesday, according to exchange data.

Meanwhile, the rupee appreciated by 2 paise to 83.23 against the US dollar in early trade on Wednesday on the back of a weaker American currency and inflow of foreign funds in the domestic equity markets. Forex traders said surging crude oil prices and negative trend in equity markets, however, capped the rise in the domestic currency.

At the interbank foreign exchange, the domestic unit opened at 83.24 against the dollar and then inched up to 83.23, registering a gain of 2 paise over its previous close. On Tuesday, the rupee settled at 83.25 against the US dollar.