Share Market Today: Sensex, Nifty Close Flat. Auto, Private Bank Stocks Drag
Share market today: On the 30-share Sensex platform, M&M, IndusInd Bank, Axis Bank, Airtel, Tata Motors, ICICI Bank emerged losers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday closed flat amid tepid trade across sectors. The BSE Sensex ended at 80,425, down 12 points. On the other hand, the NSE Nifty50 settled at 24,573, up 32 points.
Stock update
On the 30-share Sensex platform, M&M, IndusInd Bank, Axis Bank, Airtel, Tata Motors, ICICI Bank emerged losers. On the flip side, Tata Steel, TCS, NTPC, JSW Steel, Asian Paints, Reliance were among the gainers.
In the broader markets, the BSE Midcap gained 0.53 per cent and the BSE Smallcap advanced over 1.13 per cent.
Sectoral update
Sectorwise, Nifty Auto index declined 0.9 per cent, followed by Nifty Private Bank index dropping 0.5 per cent, while Nifty Metal and PSU Bank indices edged 1.87 per cent and 1.2 per cent higher, respectively.
In the previous session on Friday, the Sensex jumped 1331 points to settle at 80,437, while the NSE Nifty50 gained 397 points to 24,541.
"The Indian market failed to catch up with the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand," said Vinod Nair, Head of Research, Geojit Financial Services.
Global update
In Asian markets, Shanghai, and Hong Kong settled higher, while Seoul and Tokyo ended lower. European markets were trading mostly higher. The US markets ended in positive territory on Friday.
Foreign Institutional Investors (FIIs) turned buyers on Friday as they bought equities worth Rs 766.52 crore, according to exchange data. Domestic Institutional Investors (DIIs) bought equities worth Rs 2,606.18 crore on Friday.
Global oil benchmark Brent crude dipped 0.82 per cent to $79.03 a barrel.
Rupee rises 8 paise
The Indian rupee appreciated by 8 paise to close at 83.87 (provisional) against the US dollar on Monday, supported by a weak US dollar and a decline in crude oil prices. Forex traders said fresh foreign fund inflows boosted investor sentiments.
At the interbank foreign exchange, the rupee opened at 83.88 against the greenback, then gained ground and touched an intra-day high of 83.84, and a low of 83.93 against the American currency.
The local currency finally settled for the day at 83.88 (provisional) against the American currency. On Friday, the rupee moved in a tight range and settled just 1 paisa lower at 83.95 against the American currency.
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