Stock Market Today: Sensex And Nifty Trade Flat Amid Volatility. IT, Realty Slip

Stock update: On the 30-share Sensex platform, M&M, Tata Steel, JSW Steel, Tata Motors, Axis Bank, L&T emerged gainers. PowerGrid, Titan, Asian Paints, Nestle, HUL, Infosys were among losers

In the broader markets, the BSE Midcap and Smallcap indices were trading in the red due to volatility.

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The two key equity benchmarks, Sensex and Nifty, on Monday are trading flat amid volatility, tracking mixed global cues. At 10 am, the BSE Sensex marginally up by 4 points to 72,647. On the other hand, the NSE Nifty50 was trading at 22,012, down 11 points.

On the 30-share Sensex platform, M&M, Tata Steel, JSW Steel, Tata Motors, Axis Bank, L&T emerged gainers. On the down side, PowerGrid, Titan, Asian Paints, Nestle, HUL, Infosys were among losers.

About 1778 shares advanced, 1315 shares declined, and 116 shares unchanged.

#ABPStockMarketWatch | Sensex and Nifty are trading flat amid volatility, tracking mixed global cues, on Monday

At 09:20 AM, #Sensex gained 47 points to open at 72,690 and #Nifty lost 3.3 points to open at 22,020

Here's a look at the stocks in focus:#ABPLive #OpeningBell… pic.twitter.com/P0rjNLGe4L

— ABP LIVE (@abplive) March 18, 2024

In the broader markets, the BSE Midcap and Smallcap indices were trading in the red due to volatility.

Sectorwise, IT, Realty, and power are trading lower, while auto and metals gained.

In the previous session on Friday, the S&P BSE Sensex dropped 454 points to 72,485, while the NSE Nifty50 closed at 22,023, down 123 points.

"With the US Federal Reserve's decision looming on Wednesday, market volatility is expected to intensify. Investors' attention is also shifting towards the upcoming Lok Sabha polls," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. 

Bears may seize control following a weak lead from Wall Street in Friday’s trading session, potentially triggering volatility in Nifty as bullish traders scale back amidst anticipation of an impending Fed rate cut, he added.

Asian markets, including Seoul, Tokyo, Shanghai, and Hong Kong, saw an upward trend in trading activities. Conversely, the US markets closed on a lower note last Friday.

Exchange data indicates that Foreign Institutional Investors (FIIs) purchased equities worth Rs 848.56 crore on Friday.

The global oil benchmark, Brent crude, experienced a rise of 0.36 per cent, reaching $85.65 per barrel.

In the opening session on Monday, the rupee gained 2 paise against the US dollar, standing at 82.84, bolstered by inflows from foreign funds. However, the surge in crude oil prices and lackluster domestic stock performance limited the rupee's gains, as observed by forex dealers.

During early trading, the rupee traded within a narrow range of 82.83 to 82.84 against the dollar. On the previous Friday, it had closed at 82.86. The US dollar index, which measures the dollar's strength against a basket of six currencies, remained steady at 103.43.