Stock Market: Sensex, Nifty Trade Flat Amid Weak Global Cues. Pharma, IT Log Early Gains

Stock update: On the 30-share Sensex platform, Airtel, HDFC Bank, ITC, Wipro, UltraCemco, Reliance were trading in the green

In the broader markets, the Nifty Midcap100 hit a fresh record high of 40,368.65, rising 0.06 per cent, while the Nifty Smallcap 100 advanced 0.4 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Wednesday were trading flat amid weak global trends. At 9.40 am, the BSE Sensex was marginally up 67 points to 65,847. On the other hand, the NSE Nifty50 was trading at 19,600, up 25 points.    

On the 30-share Sensex platform, Airtel, HDFC Bank, ITC, Wipro, UltraCemco, Reliance were trading in the green. On the downside, IndusInd Bank, NTPC, Tata Steel, Asian Paints, JSW Steel, Maruti were among the early losers.

#ABPLiveStockMarketWatch | Sensex and Nifty were trading marginally higher amid weak global trends, on Wednesday
At 09:42 AM, #Sensex went up by 70 points to 65,851 & #Nifty by 18 points to 19,592

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading… pic.twitter.com/vsIS3bhMcM

— ABP LIVE (@abplive) September 6, 2023

In the broader markets, the Nifty Midcap100 hit a fresh record high of 40,368.65, rising 0.06 per cent, while the Nifty Smallcap 100 advanced 0.4 per cent.

Sectorwise, the Nifty Pharma and IT indices gained up to 0.2 per cent, while Nifty Metal index declined 0.9 per cent, followed by the Nifty PSU Bank index (down 0.45 per cent).

The S&P BSE Sensex, which slipped over 200 points to touch a low of 65,601, rebounded and hit a high of 65,832, and eventually closed 152 points up at 65,780. On the other hand, the NSE Nifty touched a high of 19,587, and settled with a gain of 46 points at 19,575.

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

Global oil benchmark Brent crude climbed 0.07 per cent to $90.10 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,725.11 crore on Tuesday, according to exchange data.

Meanwhile, the rupee depreciated 5 paise to 83.09 against the US dollar in early trade on Wednesday as elevated crude oil prices and strength of the American currency weighed on investor sentiments. Forex traders said the rupee is trading lower on strong dollar and sustained foreign fund outflows over the past few days.

At the interbank foreign exchange, the domestic unit opened at 83.08, then touched 83.09, registering a decline of 5 paise over its last close. On Tuesday, the rupee plunged by 33 paise to close at 83.04 against the US dollar.