(Source: Poll of Polls)
Stock Market Today: Sensex, Nifty Trade Flat Amid Volatility. Aditya Birla Fashion Up 16%
Stock update: On the 30-share Sensex platform, ICICI Bank, Bajaj Finance, Wipro, Bajaj Finserv, TCS, UltraCemco emerged losers
The two key equity benchmarks, Sensex and Nifty, on Tuesday are trading flat amid volatility after the Asian markets got off to a muted start. At 10 am, the BSE Sensex dropped 41 points to 73,973, while the NSE Nifty50 was trading at 22,454, down 8 points.
On the 30-share Sensex platform, ICICI Bank, Bajaj Finance, Wipro, Bajaj Finserv, TCS, UltraCemco emerged losers. On the flip side, IndusInd Bank, HDFC Bank, Titan, Tata Motors, Nestle, L&T were among the gainers.
Among specific stocks, Aditya Birla Fashion and Retail hit the 16 per cent upper limit at Rs 233 after the firm thinking to demerge Madura Fashion & Lifestyle business into a separate listed company.
In the broader markets, the BSE Midcap index gained 0.5 per cent, while the SmallCap advanced 0.7 per cent.
In the previous session on Monday, the BSE Sensex rose 363 points to 74,014, while the NSE Nifty50 closed at 22,462, up 135 points.
"Profit-taking may come into play due to excessive optimism, subdued US market close in overnight trades, and FIIs turning net sellers in Monday's positive session," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said in his pre-opening market comment.
Asian Markets Mixed, Wall Street Ends Lower; FIIs Sell Equities, Brent Crude Rises
In Asian markets, Seoul saw a decline while Tokyo, Shanghai, and Hong Kong experienced gains.
On Wall Street, the trading day concluded with mostly negative results.
According to exchange data, Foreign Institutional Investors (FIIs) divested equities worth Rs 522.30 crore on Monday.
Global oil benchmark Brent crude surged by 0.48 percent, reaching $87.84 per barrel.
The rupee encountered range-bound trading against the US dollar on Tuesday, influenced by the strength of the American currency and elevated crude oil prices.
At the interbank foreign exchange, the rupee initiated at 83.37 against the greenback, hitting a high of 83.35, marking a 4 paise increase compared to its previous close.
Rupee falls 6 paise
Meanwhile, the rupee on Tuesday experienced a 6 paise depreciation, settling at 83.39 against the US dollar. The forex market remained closed on Friday due to 'Good Friday' and on Monday for the annual account closing of banks.
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