Stock Market: Sensex Slips Marginally By 18 Points, Nifty Trades Below 17,550 Amid High Volatility

Stock update: NTPC was the top loser in the platform, shedding 2.42 per cent, followed by Wipro, Bajaj Finance, HCL Tech, Infosys. and Tech Mahindra on the BSE

Sensex and Nifty, the two key equity benchmarks, on Wednesday recouped some of the losses and turned flat after the domestic indices started trade in the red amid weak global market sentiments. The Indian equity markets turned highly volatile afterwards and started oscillating between gains and losses.

At 10.45 am, the BSE Sensex was trading marginally lower by 18 points to 58,834, while the broader NSE Nifty was trading at 17,519, down 5 points.

On the 30-share BSE Sensex, NTPC was the top loser in the platform, shedding 2.42 per cent, followed by Wipro, Bajaj Finance, HCL Tech, Infosys. and Tech Mahindra. On the flip side, ICICI Bank, Sun Pharma, Nestle India, HUL, Reliance Industries, and Maruti were among the gainers.

In the broader markets, which were trading in the green, Nifty Midcap 100 and Nifty Small Cap 100 gained up to 0.2 per cent.

Sectorwise, Nifty led Auto and Nifty FMCG indices led the charge. Nifty IT and Nifty Realty, however, was bogged down in trade.

In the previous session on Monday, the BSE index ended 465 points (0.80 per cent) up at 58,853 points. Likewise, the broader NSE Nifty had advanced 127 points (0.73 per cent) to 17,525 points. Equity markets were closed on Tuesday on account of Muharram.

In Asian markets, Tokyo, Hong Kong, Shanghai, and Seoul were trading in the negative zone in mid-session deals. Equities on Wall Street ended in the negative zone in the overnight session.

International oil benchmark Brent crude was trading 0.21 per cent lower at $96.11 per barrel.

Foreign institutional investors (FIIs) were net buyers in the Indian capital market as they purchased shares worth Rs 1,449.70 crore on Monday, as per provisional exchange data. 

Meanwhile, the rupee appreciated by 11 paise to 79.52 against the US dollar in opening trade on Wednesday, tracking easing crude oil prices and foreign fund inflows.

Forex traders said sideways USD/INR trades are likely ahead of crucial US inflation data. At the interbank foreign exchange, the rupee opened at 79.59 against the US dollar and touched 79.52 in initial deals, registering a rise of 11 paise over the last close.

In the previous session on Monday, the rupee had closed at 79.63 against the US dollar.