Share Market Today: Sensex, Nifty Trade Flat. Adani Group Shares Rise
Share Market Today: On the 30-share Sensex platform, Airtel, IndusInd Bank, UltraCemco, Tata Steel, SBI, Asian Paints emerged losers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Wednesday are trading flat during early trade. At 10.55 am, the BSE Sensex slips 66 points to 79,938. On the other hand, the NSE Nifty50 was trading at 24,175, dropping 20 points.
Stock update
On the 30-share Sensex platform, Airtel, IndusInd Bank, UltraCemco, Tata Steel, SBI, Asian Paints emerged losers. On the flip side, NTPC, Maruti, Adani Ports, Bajaj Finance, Kotak Bank, M&M were among the gainers.
Shares of Adani Group rebounded jumped up to 4 per cent after the group firm, Adani Green, denied media reports claiming Adani executives were charged with bribery and corruption, clarifying that the charges relate to wire and securities fraud.
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In the broader market, the BSE Midcap index remained flat, whereas the Smallcap index rose by 0.6 per cent.
Sectoral update
Among sectors, capital goods, IT, and power gained 0.5-1 per cent, while FMCG, metals, pharma, PSU banks, and oil & gas witnessed selling pressure.
In the previous session on Tuesday, the BSE Sensex declined 106 points to settle at 80,004, while the NSE Nifty50 closed at 24,195, declining 27 points.
"Trump's renewed tariff threats on China, Mexico, and Canada dampened sentiment, fuelling trade tension fears," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said.
Global updates
In Asian markets, Shanghai and Hong Kong were trading in the green, while Seoul and Tokyo quoted lower. The US markets ended in the positive territory on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 1,157.70 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 0.05 per cent to $72.85 a barrel.
Rupee drops 15 paise
The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts.
At the interbank foreign exchange, the local unit opened at 84.38, down 9 paise from its previous close, and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar.
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