Share Market Today: Sensex, Nifty Settle Flat Amid Volatility Following Hindenburg Report
Share market today: On the 30-share Sensex platform, NTPC, Adani Ports, PowerGrid, SBI, Nestle, M&M emerged prime losers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday pared initial losses and settled flat amid volatility following the Hindenburg-Sebi row. The 30-share BSE Sensex dipped 57 points to close at 79,649. In the morning, the index dropped to an intra-day low of 79,226. On the other hand, the NSE Nifty50 slipped 21 points to 24,346. It declined to an intra-day low of 24,212.
The market opened lower despite positive global cues, with Nifty dropping closer to 24,200 following the Hindenburg Research report. However, as the day progressed, the market rebounded, lifting Nifty near 24,500. But in the final hour, selling pressure erased the recovery, resulting in a flat close.
Stock update
On the 30-share Sensex platform, NTPC, Adani Ports, PowerGrid, SBI, Nestle, M&M emerged prime losers. On the flip side, Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank, Kotak Bank were among the gainers.
Adani stocks
All the 10 Adani Group stocks dropped sharply during early trade, with Adani Energy Solutions tumbling 17 per cent and Adani Total Gas dropping 13.39 per cent. At close, eight of the group firms ended lower, while two of them bounced back.
The fear index, India VIX, closed higher by 3.47 per cent at 15.87 points.
In the broader market, Smallcap and Midcap closed with marginal gains.
Sectoral update
Sectorally, Media, PSU Bank, Auto, FMCG, Pharma, and Healthcare indices ended in the red, while telecom, IT, oil & gas, metal, and realty gained 0.3-1 per cent.
In the previous session on Friday, the 30-share BSE Sensex jumped 820 points to close at 79,706, while the NSE Nifty50 surged 251 points to 24,368.
"The Indian market concluded relatively flat, with its initial path being eclipsed by the continuation of the Adani-Hindenburg-SEBI saga. However, the market tried to brush away these noises, taking positive cues from global markets," said Vinod Nair, Head of Research, Geojit Financial Services.
Global update
In Asian markets, Seoul and Hong Kong settled in the positive territory, while Shanghai ended lower. Markets in Tokyo and Bangkok were closed for a holiday. European markets were trading mostly higher. The US markets ended higher on Friday.
Foreign Institutional Investors (FIIs) turned buyers on Friday after days of offloading equities. They bought equities worth Rs 406.72 crore, according to exchange data.
Global oil benchmark Brent crude climbed 0.83 per cent to $80.32 a barrel.
Rupee slips 2 paise
The rupee consolidated in a narrow range and settled for the day lower by 2 paise at 83.97 (provisional) against the American currency on Monday. Forex traders said the Indian rupee declined on a positive tone in the US dollar and a surge in crude oil prices.
At the interbank foreign exchange market, the local unit opened at 83.95 and touched an intraday low of 83.98 and finally settled at 83.97 (provisional) against the American currency, lower by 2 paise from its previous close.
The local unit had slumped 37 paise to settle at an all-time low of 84.09 against the US dollar on August 5. On Friday, the rupee settled for the day higher by 2 paise at 83.95 against US dollar.
Trending News
Top Headlines
