Stock Market: Sensex, Nifty Trade Flat Amid Volatility. Pharma, PSB, Realty Gain

Stock update: On the 30-share Sensex platform, HDFC twins, Maruti, Airtel, M&M, PwerGrid, ITC were among the losers

In the broader markets, the BSE Midcap and Smallcap indices rose up to 0.6 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Tuesday opened flat tracking mixed global cues amid volatility. At 9.50 am, the BSE Sensex was marginally down by 18 points to 62,327. On the other hand, the NSE Nifty was trading at 18,401, up 3 points.

On the 30-share Sensex platform, HDFC twins, Maruti, Airtel, M&M, PwerGrid, ITC were among the losers. On the flip side, Bajaj Finance, Infosys, Asian Paints, Nestle, Tata Motors, Bajaj Finserv, TCS emerged early winners.

#ABPLiveStockMarketWatch | Sensex and Nifty on Tuesday were trading flat amid volatility.

At 09:38 AM, #Sensex fell by 90 points to 62,256 & #Nifty by 17 points to 18,382

Here's a look at the stocks in focus:#StockMarket #StockMarketPrices #Trading #Stock pic.twitter.com/vTIgJp1bj2

— ABP LIVE (@abplive) May 16, 2023

Among stocks, ONGC, Oil India rose up to 2 per cent after the government cut the windfall tax on petroleum crude to zero from Rs 4,100 ($50.13) per tonne. PVR dropped over 2.5 per cent on reporting a consolidated net loss of Rs 333.35 crore for Q4FY23 against a net loss of Rs 105.49 crore a year ago.

In the broader markets, the BSE Midcap and Smallcap indices rose up to 0.6 per cent versus nearly flat BSE Sensex.

Sectorwise, Nifty Pharma, PSB, and Realty indices gained the most, up 0.7-1 per cent, while the Financial index was trading in the red. 

In the previous session on Monday, the BSE Sensex, which went up around 500 points, finally closed 318 points higher to 62,345. On the other hand, the NSE Nifty50 gained 84 points to 18,399.

In Asia, Seoul, Tokyo, Shanghai, and Hong Kong markets were trading in the green. The US market had ended with gains on Monday.

Global oil benchmark Brent crude climbed 0.53 per cent to $75.63 per barrel.

Meanwhile, the rupee gained 11 paise to 82.20 against the US dollar in early trade on Tuesday supported by sustained foreign fund inflows. Forex traders said a weak trend in domestic equities and strength of the American currency in the overseas market weighed on investor sentiments.

At the interbank foreign exchange, the domestic unit opened at 82.22 against the dollar and then rose to 82.20, registering a gain of 11 paise over its previous close. On Monday, the rupee closed at 82.31 against the US currency.