Share Market Today: Sensex, Nifty Close Flat Amid Volatility. Autos Gain, Realty Drags
Share market today: On the 30-share Sensex platform, Tata Motors, Sun Pharma, Airtel, ICICI Bank, M&M, Bajaj Finserv emerged gainers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Friday closed flat amid high volatility as investors awaited clues about possible interest rate cuts by the Federal Reserve in this year. The BSE Sensex closed at 81,086, up by 33 points. On the other hand, the NSE Nifty50 settled at 24,823, rising by 12 points.
Stock update
On the 30-share Sensex platform, Tata Motors, Sun Pharma, Airtel, ICICI Bank, M&M, Bajaj Finserv emerged gainers. On the down side, TechM, Asian Paints, Titan, Infosys, TCS, HCLTech were among the losers.
Sectoral update
Auto sector stood out as the sole gainer, closing up by 1.12 per cent. In contrast, the Realty index dropped 2.24 per cent, with the Media and IT indices both slipping by approximately 1 per cent.
In the previous session on Thursday, the BSE benchmark index settled at 81,053, rising 148 points, while the NSE Nifty50 ended at 24,812, up 41 points.
"Ahead of the FED chair Powell’s speech, the Indian indices oscillated around the flat trajectory and mixed global market sentiments further catalysed this scenario," Vinod Nair, Head of Research, Geojit Financial Services said.
Global update
European markets were trading with significant gains in the mid-session deals while Asian markets were mixed. The US stock markets closed lower in overnight trade on Thursday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,371.79 crore on Thursday, according to exchange data. Domestic institutional investors (DIIs) again bought equities worth Rs 2,971.80 crore on Thursday.
Global oil benchmark Brent crude rose 1.01 per cent to $78 a barrel.
Rupee rises 4 paise
The rupee traded in a narrow range and settled higher by 4 paise at 83.89 (provisional) against the American currency on Friday, as traders remained cautious ahead of Fed Chair Jerome Powell's speech at the Jackson Hole Symposium. At the interbank foreign exchange market, the local unit opened weak at 83.93 and touched an intraday high of 83.85 against the US dollar.
The domestic currency finally settled at 83.89 (provisional), 4 paise higher from its previous close. On Thursday, the rupee traded in a narrow range and settled lower by 3 paise at 83.93 against the American currency.
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