Stock Market Ends Flat: Sensex Dips 17 Points, Nifty Holds 18,100 Amid Volatility. Titan Rises 3 Per Cent
Stock update: On the 30-share Sensex platform, Titan gained nearly 3 per cent. Mahindra & Mahindra, PowerGrid Corporation, and Maruti were the other major gainers, up 1–2 per cent each
Sensex and Nifty, the two key equity benchmarks, closed in the red after two days of steady gains on Wednesday amid mixed global cues. The two domestic indices oscillated between gains and losses throughout the trading session tracking high volatility.
The S&P BSE Sensex dipped to a low of 60,714 in early trades, and then rallied to a high of 61,075 – 361 points from the day’s low led by gains in auto, consumer durables and energy shares. The Sensex finally ended on a flat note at 60,910, down 17 points. On the other hand, the NSE Nifty50 eventually settled 10 points lower at 18,122.
On the 30-share Sensex platform, Titan gained nearly 3 per cent. Mahindra & Mahindra, PowerGrid Corporation, and Maruti were the other major gainers, up 1–2 per cent each. On flip side, Bharti Airtel, Axis Bank, Bajaj Finserv and Tata Steel were down over a per cent each.
In the broader markets, the BSE Midcap index advanced 0.2 per cent, while the Smallcap index added 0.4 per cent.
The overall market breadth, however, was positive, with around 2,075-odd shares up as against 1,400 stocks declined on the BSE.
Sectorwise, the BSE Consumer Durables index moved 1.4 per cent higher. The Power and Energy indices were the other major movers. On the flip side, the metal and healthcare shares softened in trades. That apart, some shares of PSU Bank stocks extended gains for the third straight day, with the Nifty PSU Bank index was up 11 per cent during this period.
In the previous session on Tuesday, the S&P BSE Sensex gained around 361 points at 60,927, while the broader NSE Nifty 50 closed at 18,132, up 118 points.
Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai ended lower, while Hong Kong settled in the green. Equity exchanges in Europe were trading on a mixed note in mid-session deals. Markets in the US ended mostly lower on Tuesday.
"Market wavered between gains and losses with investors taking their position around the flatline as mixed global cues troubled them to take a firm one-sided move," said Vinod Nair, Head of Research at Geojit Financial Services.
International oil benchmark Brent crude declined 0.74 per cent to $83.71 per barrel.
Foreign institutional investors (FIIs) offloaded shares worth Rs 867.65 crore on Tuesday, according to exchange data.
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