Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Monday closed in the red amid volatility as investors continued to book profit. The BSE Sensex index dropped 73 points before closing at 81,151. On the other hand, the NSE Nifty50 settled at 24,781, declining 73 points.
Stock update
On the 30-share Sensex platform, Kotak Bank, Bajaj Finserv, IndusInd Bank, Adani Ports, UltraCemco, Bajaj Finance emerged losers. On the flip side, HDFC Bank, Asian Paints, M&M, TechM, Reliance, Maruti were among the gainers.
In the broader indices, BSE Midcap and BSE Smallcap indices declined 1.6 per cent each.
Sectoral update
Sectorwise, except auto, all other indices closed in the red. the Nifty Media index dropped by 2.8 per cent, followed by declines of 1.7 per cent in the Nifty Realty, 1.5 per cent in the Nifty IT, and 1.3 per cent in the Nifty Private Bank indices.
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.
"The domestic market displayed considerable volatility, with key indices swinging between negative and positive terrain. Meanwhile, FIIs continued their strategic buying in China while selling off in India, driven by weaker corporate earnings and valuation concerns. Concurrently, domestic Q2 earnings have been mostly underwhelming, with major private sector banks notably disappointing. However, DIIs have offered some support, mitigating the market’s decline," said Vinod Nair, Head of Research, at Geojit Financial Services.
Global update
In Asian markets, Tokyo and Hong Kong settled lower while Seoul and Shanghai ended higher.
European markets were trading lower. The US markets ended higher on Friday.
Global oil benchmark Brent crude climbed 1.04 per cent to $73.82 a barrel.
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.
Rupee closes flat
The rupee on Monday settled flat at 84.07 (provisional) against the US dollar amid strong American currency against major rivals overseas and relentless foreign fund outflows.
Investors remained cautious and stayed away from riskier assets due to geopolitical uncertainties, forex dealers said. At the interbank foreign exchange market, the local unit opened at 84.06 against the greenback and stayed almost flat throughout the session. The unit finally settled at 84.07 (provisional) against the dollar, unchanged from its previous session's closing level.
On Friday, the rupee slipped 1 paisa to close at 84.07 against the US dollar, a tad higher from its all-time low of 84.09 recorded on August 5 this year.