Stock Market: Sensex, Nifty Trade Flat Amid Volatility. FMCG And Realty Gain

Stock update: On the 30-share Sensex platform, Tata Motors, M&M, Wipro, TechM, SBI, HCL, HDFC were in the red

The two key equity benchmarks, Sensex and Nifty, on Thursday were trading flat amid volatility tracking mixed global sentiment. At 9.45 am, the BSE Sensex declined 100 points to 61,675. On the other hand, the NSE Nifty50 was trading at 18,256, down 29 points.

On the 30-share Sensex platform, Tata Motors, M&M, Wipro, TechM, SBI, HCL, HDFC were in the red. On the upside, ITC, Nestle, Kotak Bank, Power Grid, Airtel, NTPC were among the early winners.

Among specific stocks, shares of Nykaa gained over 1 per cent after the company rose by 33.7 per cent YoY to Rs 1,302 crore in Q4FY23. Besides, shares of Life Insurance of Corporation (LIC) surged over 2 per cent after the company recorded standalone profit over 400 per cent YoY in Q4FY23.

In the broader markets, Nifty Midcap 100 and Nifty Smallcap 100 indices slipped up to 0.2 per cent.

Volatility index, India VIX, declined over 2 per cent.

Sectorwise, Nifty FMCG and Nifty Realty indices marched forward in trade, gaining up to 0.6 per cent. On the flipside, Nifty Metal and Nifty Auto indices were subdued in trade.

In the previous session on Wednesday, the S&P BSE Sensex declined 208 points to 61,774, on the other hand the Nifty50 shut shop at 18,285, down 62 points.

In Asian markets, Seoul, Shanghai, and Hong Kong quoted lower, while Tokyo traded in the green. The US market ended lower on Wednesday.

"The uncertain stance of the Fed and ongoing talks about the US debt ceiling are casting a shadow of volatility in the markets," said Prashanth Tapse - Research Analyst, Senior VP (Research), Mehta Equities Ltd.

Global oil benchmark Brent crude dipped 0.05 per cent to $78.32 a barrel.

Foreign Institutional Investors (FIIs) were net buyers on Wednesday as they bought equities worth Rs 1,185.84 crore, according to exchange data.

Meanwhile, the rupee depreciated 8 paise to 82.76 against the US dollar in early trade on Thursday, weighed down by strength of the American currency in the overseas market. At the interbank foreign exchange, the domestic unit opened at 82.76, registering a decline of 8 paise over its last close.

On Wednesday, the rupee settled at 82.68 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.14 per cent to 104.02.