Share Market Today: Sensex, Nifty End Flat. IT Stocks Shine
Share Market Today: On the 30-share Sensex platform, IndusInd Bank, Asian Paints, HUL, Tata Motors, Tata Steel, Titan ended in the red
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday pared their morning gains and settled on a flat note. The BSE Sensex closed at 84,266, dropping 33 points from its previous close. On the other hand, the NSE Nifty50 closed 14 points down to 25,797.
Market will remain shut on October 2 (Wednesday) on account of Gandhi Jayanti.
Stock update
On the 30-share Sensex platform, IndusInd Bank, Asian Paints, HUL, Tata Motors, Tata Steel, Titan ended in the red. On the flip side, TechM, M&M, Infosys, Kotak Bank, SBI, HCLTech emerged gainers.
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In the broader markets, the Nifty Smallcap 100 and Nifty Midcap 100 jumped 0.79 per cent and 0.34 per cent, respectively.
Sectoral update
Sectorally, the Nifty IT and Media indices outperformed other sectoral indices, closing with gains of over 1 per cent. Auto, Metal, Pharma, PSU Bank, Consumer Durables, and certain Healthcare stocks also posted modest gains.
In the previous session on Monday, the 30-share Sensex dropped 1272 points to end at 84,299, on the other hand, the NSE Nifty50 declined 368 points to 25,810.
Global update
In Asian markets, Tokyo settled higher. South Korea, Hong Kong and mainland Chinese markets are closed for a public holiday on Tuesday. Markets in mainland China will be closed for the rest of the week due to holiday. European markets were trading on a mixed note. The US markets ended in the positive territory on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,791.93 crore on Monday, while Domestic Institutional Investors (DIIs) bought equities worth Rs 6,645.80 crore, according to exchange data.
India's manufacturing sector growth fell to an eight-month low in September amid softer increase in factory production, sales and new export orders, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 57.5 in August to 56.5 in September, registering the weakest pace of growth since January.
Global oil benchmark Brent crude declined 1.66 per cent to $70.51 barrel.
Rupee slips 3 paise
Rupee stayed in a narrow range and settled 3 paise lower at 83.82 (provisional) against the US dollar on Tuesday amid subdued equity markets, unabated outflow of foreign funds and strengthening American currency. At the interbank foreign exchange, the local unit opened at 83.81 and moved between the low of 83.83 and high of 83.80 against the greenback during the session.
The unit finally settled at 83.82 (provisional), registering a loss of 3 paise from its previous closing level. On Monday, the rupee settled 10 paise lower at 83.79 against the American currency.
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