Share Market Today: Sensex, Nifty Trade Flat. Auto, IT Stocks Drag
Share market today: On the 30-share Sensex platform, Tata Motors, Adani Ports, Maruti, PowerGrid, Tata Steel, JSW Steel emerged early losers
Share market today: The two key equity benchmark indices, Sensex and Nifty, on Tuesday are trading flat as investors anticipated a series of global data releases and a policy decision from the US Federal Reserve scheduled for Wednesday. At 10.20 am, the BSE Sensex dropped 63 points to 82,925. On the other hand, the NSE Nifty50 was trading at 25370, down 13 points.
Stock update
On the 30-share Sensex platform, Tata Motors, Adani Ports, Maruti, PowerGrid, Tata Steel, JSW Steel emerged early losers. On the flip side, Kotak Bank, Airtel, Bajaj Finance, ICICI Bank, HUL, HCLTech were among the gainers.
A total of 1,324 shares gained, 1,213 shares dropped, while 141 remained unchanged.
Sectoral update
Sectorwise, Nifty IT and Nifty Auto declined 0.3 per cent and 0.7 per cent, respectively. Nifty Healthcare, Nifty Pharma, and Nifty FMCG advanced 0.2 per cent to 0.7 per cent.
In the previous session on Monday, the BSE benchmark rose 98 points to settle at a new record peak of 82,988, while the Nifty50 gained 27 points to close at 25,384.
"Globally equity markets were flat yesterday signalling a wait and watch mood in anticipation of the Fed rate action tomorrow," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
In Asian markets, Tokyo and Shanghai were trading lower while Hong Kong quoted with gains. Japan's Nikkei fell 0.6 per cent, dragged by technology names as they tracked a decline on Wall Street. The US markets ended mostly higher on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,634.98 crore on Monday, according to exchange data.
Global oil benchmark Brent crude climbed 0.45 per cent to $73.08 a barrel.
Rupee rises 2 paise
The rupee appreciated 2 paise to 83.84 against the US dollar in early trade on Tuesday, helped by a weak greenback against major crosses overseas and lower crude oil prices in international markets. However, a sluggish trend in the domestic equities and fresh foreign fund outflows amid US rate cut expectations restricted the rise in the local unit, forex traders said.
At the interbank foreign exchange market, the local unit opened slightly weak at 83.87 but gained some ground to turn positive at 83.84, registering a rise of 2 paise from its previous close. On Monday, the local unit settled at 83.86 against the US dollar.
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