Stock Market: Sensex And Nifty Trade Flat Amid Volatility. Media, Metal, Realty Gain

Stocks update: On the 30-share Sensex platform, Tata Steel, M&M, JSW Steel, JioFin, PowerGrid, Maruti were among early gainers

The two key equity benchmarks, Sensex and Nifty, on Monday were trading flat amid volatility, tracking cues from global markets. At 9.40 am, the S&P BSE Sensex, which surged over 100 points, pared gains and trading marginally up by 20 points to 64,907. On the other hand, the NSE Nifty was trading at 19,280, up 14 points

On the 30-share Sensex platform, Tata Steel, M&M, JSW Steel, JioFin, PowerGrid, Maruti were among early gainers. On the downside, HUL, HCL, Airtel, Titan, Nestle emerged losers. Among specific stocks, shares of Reliance Industries were flat ahead of 46th annual general meeting (AGM). Garden Reach stock surged 3 per cent after it signed memorandum of understanding (MoU) with DEMPO Group.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 jumped up to 0.7 per cent.

Sectorwise, barring Nifty FMCG index that slipped in red, all other sectors were trading in the positive zone. Nifty Media emerged as the top sectoral performer, rising up to 1 per cent.

In the previous session, the S&P BSE Sensex closed the day with a loss of 366 points at 64,887, while NSE Nifty 50 ended 121 points lower at 19,266.

"The market will be keenly watching for signals from the RIL AGM today," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading with gains. The US markets ended in the positive territory on Friday.

Global oil benchmark Brent crude declined 0.11 per cent to $84.39 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,638.21 crore on Friday, according to exchange data.

Meanwhile, the rupee was trading in a narrow range and appreciated by 12 paise to 82.52 against the US dollar in early trade on Monday, tracking positive Asian peers and domestic equities. Forex traders said the rupee is trading in a range as selling pressure by foreign investors dented sentiments, while easing crude oil prices cushioned the downside.

At the interbank foreign exchange, the domestic unit opened at 82.58, then touched a high of 82.52 against the American currency, registering a rise of 12 paise over its last close. In initial trade, the rupee also touched a low of 82.59 against the American currency. On Friday, the rupee declined by 8 paise to settle at 82.64 against the US dollar.