Stock Market Today: Sensex, Nifty Trade Flat Amid Volatility. Auto, IT Gain

Stock update: On the 30-share Sensex platform, HCLTech, Infosys, M&M, Maruti, TCS, Sun Pharma were among the losers. PowerGrid, Kotak Bank, HDFC Bank, NTPC, Axis Bank, ICICI Bank emerged gainers

In the broader market, the BSE Midcap index is trading flat, while Smallcap index up 0.3 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Tuesday were trading lower amid volatility tracking tepid global cues. At 10.15 am, the BSE Sensex was down 67 points to 72,641. On the other hand, the NSE Nifty50 was trading at 22,088, down 34 points.

On the 30-share Sensex platform, HCLTech, Infosys, M&M, Maruti, TCS, Sun Pharma were among the losers. On the down side, PowerGrid, Kotak Bank, HDFC Bank, NTPC, Axis Bank, ICICI Bank emerged gainers. Among specific stocks, Zee Entertainment Enterprises shares surged 6 per cent after ZEEL and Sony Group hold talks that may save the $10 billion merger the Japanese conglomerate had called off on January 22.

#ABPStockMarketWatch | Indian equity benchmarks Sensex and Nifty opened in the red, on Tuesday

At 09:20 AM, #Sensex lost 158 points to open at 72,550, and #Nifty dropped 55 points to open at 22,068

Here's a look at the stocks in focus:#ABPLive #OpeningBell #MarketWatch pic.twitter.com/S2x90YCSE8

— ABP LIVE (@abplive) February 20, 2024

In the broader market, the BSE Midcap index is trading flat, while Smallcap index up 0.3 per cent.

Sectorwise, auto, IT, FMCG, metal, and oil & gas dropped 0.5-1 per cent. On the flip side, realty, telecom, and media rose 0.5-1 per cent.

In the previous session on Monday, the BSE Sensex closed 282 points higher at 72,708, while the NSE Nifty50 hit a new high of 22,122, up 82 points.

On Monday, globally, shares struggled after hopes of early interest rate cuts faded, and US markets were closed. "European markets and the FTSE were mixed on Monday in London, as the fallout from last week's UK GDP data -- and the news that the UK fell into a recession at the end of last year -- continues to reverberate," Deepak Jasani, Head of Retail Research at HDFC Securities, said.

Foreign Portfolio Investors (FPIs) on Monday offloaded shares worth Rs 754.59 crore, according to exchange data.

Meanwhile, the rupee gained 2 paise to 82.99 against the US dollar in early trade on Tuesday, amid softening crude oil prices in the overseas market. Forex traders said, however, a strong American currency, withdrawal of foreign funds and subdued equity market sentiment kept the local unit under pressure.

At the interbank foreign exchange, the domestic currency opened at 83.02 and inched up to 82.99 against the greenback in initial deals, registering a gain of 2 paise from its previous close. On Friday, the rupee settled 4 paise higher at 83.01 against the US dollar.