Stock Market: Sensex Sheds 107 Points, Nifty Ends Below 19,650 Amid Volatility. NTPC Surges 4%; Power Leads

Stock update today: On the 30-share Sensex platform, Bajaj Firnserv, HDFC Bank, Tata Motors, HCL, TCS, Axis Bank, Infosys were among the losers

In the broader market, the BSE Midcap and Smallcap indices were up 0.5 per cent each.

The two key equity benchmarks, Sensex and Nifty, on Friday succumbed to yet another volatile session. The S&P BSE Sensex, from a high of 66,351, fell to a low of 65,879, down 472 points in intra-day trade. However, it later recovered and eventually the Sensex settled at 66,160, down 107 points. On the other hand, the NSE Nifty50, which swung in a range of 133 points, finally ended with a minor loss of 14 points at 19,646.

On the 30-share Sensex platform, Bajaj Firnserv, HDFC Bank, Tata Motors, HCL, TCS, Axis Bank, Infosys were among the losers. On the flip side, NTPC, PowerGrid, M&M, Bajaj Finance, JSW Steel, ITC emerged gainers. NTPC it soared 3.96 cent to Rs 210. In the process, the stock has reclaimed the Rs 2 trillion market cap after a gap of 15 years.

#ABPLiveStockMarketWatch | The two key equity benchmarks on Friday succumbed to yet another volatile session

At 03:30 PM, #Sensex sheds 107 points to 66,160 & #Nifty down 14 points to close at 19,646

Here's a look at the stocks in focus#ClosingBell #ABPLive #MarketWatch pic.twitter.com/58deIqyMjP

— ABP LIVE (@abplive) July 28, 2023

In the broader market, the BSE Midcap and Smallcap indices were up 0.5 per cent each.

The market breadth was marginally positive, more than 1,830 shares advanced as against near about 1,700 declining stocks on the BSE.

Sectorwise, the BSE Power index jumped over 2.5 per cent, and the Realty index surged almost 2 per cent. The FMCG index added 0.9 per cent; whereas the IT index slipped 0.7 per cent.

In the previous session on Thursday, the Sensex slipped 440 points or 0.66 per cent at 66,267, and the Nifty was down 118 points or 0.60 per cent at 19,660.

"Fed's statement today left the door open for an additional hike, but the final decision will depend on how the economic data evolve between now and then. It noted that its rate-setting committee "remains highly attentive to inflation risks," Devarsh Vakil - Deputy Head of Retail Research, HDFC Securities, said.

In Asian markets, Hang Seng went up 1.41 per cent and Japan's Nikkei was 0.68 per cent higher. Chinese index Shenzhen was down 0.41 per cent and Shanghai slipped 0.2 per cent. European markets were broadly higher with CAC 40 of France rising 1.35 per cent while Germany's DAX gained 0.89 per cent. The UK's FTSE 100 was up 0.30 per cent.

In the US market on Wednesday, S&P 500 closed 0.02 per cent lower, while Dow Jones settled 0.23 per cent higher.

Global oil benchmark Brent crude was trading 0.95 per cent higher at $83.71 a barrel.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Wednesday as they bought shares worth Rs 922.84 crore, according to exchange data.

Meanwhile, the rupee plunged 32 paise to close at 82.24 (provisional) against the US dollar on Friday amid renewed foreign fund outflows and negative trends in domestic equity markets. An elevated level of crude prices nearing USD 84 a barrel also weighed on the domestic unit even as the American currency gained strength on the back of better-than-expected macroeconomic data from the US, forex traders said. The dovish tone from European Central Bank (ECB), which raised interest rates on Thursday, also boosted the US dollar.

At the interbank foreign exchange market, the local unit opened weak at 82.30 against the US dollar. During intra-day, the domestic currency touched the peak of 82.19 and hit the lowest level of 82.34.

The rupee finally settled at 82.24 (provisional), 32 paise lower from the previous close of 81.92 on Thursday.