Share Market Today: Sensex, Nifty Trade Flat Amid Volatility. Metals Shine, PSU Banks Drag
Share market today: On the 30-share Sensex platform, TechM, Tata Motors, HUL, Nestle, Asian Paints, Adani Ports were among the losers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Wednesday are trading in the red amid profit-taking, as investors chose to remain cautious following a record rally and in anticipation of the upcoming monthly derivatives expiry. At 10.20 am, the BSE Sensex declined 24 points to 84,891. On the other hand, the NSE Nifty was trading at 25,919, falling 21 points.
Stock update
On the 30-share Sensex platform, TechM, Tata Motors, HUL, Nestle, Asian Paints, Adani Ports were among the losers. On the flip side, PowerGrid, M&M, HDFC Bank, Bajaj Finance, Axis Bank, NTPC emerged gainers.
In the broader market, the BSE Midcap fell 0.24 per cent, while the BSE Smallcap advanced 0.09 per cent.
Sectoral update
Among the sectors, FMCG, PSU Bank, and realty declined by 0.5 per cent each, while the metal index gained 0.5 per cent.
In the previous session on Tuesday, the 30-share Sensex peaked at 85,163 but closed slightly lower at 84,914, down 14.57 points, or 0.02 per cent, from the previous day. On the other hand, the NSE Nifty50 reached an intraday high of 26,012 before settling at 25,940.
"The monthly expiry on Thursday could result in sideways movement in intra-day trades, but a bullish undertone and robust growth prospects going ahead would see the markets bounce back at regular intervals," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
Global update
In Asian markets, Seoul traded lower, while Tokyo, Shanghai, and Hong Kong quoted in the positive territory. The US markets ended higher on Tuesday.
Global oil benchmark Brent crude dipped 0.28 per cent to $74.96 a barrel.
Rupee gains 10 paise
The rupee appreciated 10 paise to 83.53 against the US dollar in early trade on Wednesday, on the overall dollar weakness in the overseas market. Forex traders said the US dollar has weakened against majors post the weak consumer confidence print. The US consumer confidence dropped by the most in three years to 98.7 from 105.6 in August.
At the interbank foreign exchange market, the local unit opened at 83.59 against the American currency, then touched 83.54, registering a rise of 10 paise over its previous close. On Tuesday, the rupee depreciated 9 paise to close at 83.63 against the American currency.
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