Stock Market India: Sensex, Nifty Trade Flat Amid Volatility. NBCC Jumps 6 Per Cent

Stock Market India: On the 30-share Sensex platform, Tata Steel, Bajaj Finserv, Maruti, ICICI Bank, Asian Paints, Axis Bank were among the early losers

Stock Market India: The two key equity benchmarks, Sensex and Nifty, on Wednesday are trading flat amid volatility, tracking mixed global cues. At 10.15 am, the BSE Sensex was down 32 points to 81,679. On the other hand, the NSE Nifty50 was trading at 25,005, down 13 points.

Stock update

On the 30-share Sensex platform, Tata Steel, Bajaj Finserv, Maruti, ICICI Bank, Asian Paints, Axis Bank were among the early losers. On the flip side, IndusInd Bank, M&M, Infosys, Airtel, Adani Ports, NTPC emerged gainers.

NBCC share price

Among specific stocks, NBCC India surged over 6 per cent on the BSE on Wednesday. As of 9.55 AM, NBCC (India) shares were trading at Rs 189.00, reflecting an increase of Rs 11.35, or 6.39 per cent, on the BSE.

In the broader market, the BSE Midcap and Smallcap indices hit new highs.

Sectoral update

Sectorally, bank, metals, and realty stocks are down. On the other hand, buying can be seen in the media, capital goods, healthcare, pharma, IT.

In the previous session on Tuesday, the BSE Sensex closed at 81,712, rising 14 points, while the NSE Nifty50 ended 7 points higher at 25,018. 

"The market has entered a consolidation phase with low volatility and this trend is likely to continue in the near-term. Falling bond yields in the US has restrained FII selling and they have even turned marginal buyers. Going by previous trends, DIIs are likely to sell if FIIs continue to buy. This trend will keep the market within a range with a slight upward bias. This is a desirable and healthy trend, given the elevated valuations in the market," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global update

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower. The US markets ended with marginal gains on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,503.76 crore on Tuesday, according to exchange data. Domestic Institutional Investors (DIIs) offloaded equities worth Rs 604.08 crore.

Global oil benchmark Brent crude climbed 0.14 per cent to $79.66 a barrel.

Rupee dips 2 paise

Rupee depreciated 2 paise to 83.95 against the US dollar in morning trade on Wednesday, weighed down by a muted trend in domestic equities.

At the interbank foreign exchange market, the local unit opened at 83.94, then lost further ground and touched 83.95, registering a loss of 2 paise from its previous close. On Tuesday, the rupee depreciated by 6 paise to close at 83.93 against the American currency.