Share Market Today: Sensex, Nifty Trade Flat Amid Volatility. Kotak Bank Sinks 6%
Share Market Today: On the 30-share Sensex platform, Kotak Bank declined the most (6 per cent). IndusInd Bank, Airtel, M&M, Bajaj Finserv, Bajaj Finance were among the other losers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Monday are trading flat amid volatility in early morning trade. At 10.20 am, the BSE Sensex dropped 58 points to 81,166. On the other hand, the NSE Nifty50 was trading at 24,789, down 65 points.
Stock update
On the 30-share Sensex platform, Kotak Bank declined the most (6 per cent). IndusInd Bank, Airtel, M&M, Bajaj Finserv, Bajaj Finance were among the other losers. On the flip side, HDFC Bank, TechM, Asian Paints, Axis Bank, L&T, HCLTech emerged early gainers.
In the broader markets, the Nifty Midcap 100 rose 0.35 per cent while Nifty Smallcap 100 gained 0.08 per cent.
Sectoral update
All the sectoral indices are trading in the red with metal, oil & gas, FMCG, auto, media declined 0.5-1 per cent.
In the previous session on Friday, the BSE Sensex gained 218 points to 81,225, while the NSE Nifty50 settled at 24,854, rising 104 points.
Global update
In Asian markets, Seoul, Tokyo, and Shanghai were trading in the positive territory while Hong Kong quoted lower. The US markets ended higher on Friday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,485.70 crore on Friday, according to exchange data. However, Domestic Institutional Investors (DIIs) bought equities worth Rs 5,214.83 crore.
Global oil benchmark Brent crude climbed 0.44 per cent to $73.38 a barrel.
Rupee up 1 paisa
The rupee showed a recovery from its lower level and gained marginally by 1 paisa to 84.06 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a soft American currency. However, sustained outflow of foreign funds and an upward momentum in the crude oil prices weighed on the local unit, forex traders said.
At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and stayed almost flat in early deals, trading 1 paisa higher from its previous close. On Friday, the rupee slipped 1 paisa to close at 84.07 against the US dollar.
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