Stock Market Today: Sensex, Nifty Trade Marginally Higher; Metal, FMCG Shine

Stock Market Today: In the previous trading session on Tuesday, the Indian benchmark indices closed flat after a volatile session

Stock Market Today: The broader market continued to outshine the benchmarks, with the BSE Midcap index advancing by 0.2 per cent and the BSE Smallcap index gaining 0.4 per cent

Source : PTI

The Sensex and Nifty opened flat on Wednesday as investors adopted a cautious stance ahead of key inflation data from the US later in the day, as well as the domestic CPI figures on December 12, which are expected to offer insights into the future rate trajectories for both economies. While the auto index saw gains, banking stocks experienced slight selling pressure.

At 10 am, the Sensex rose by 32.05 points, or 0.04 per cent, to settle at 81,542.10, while the Nifty gained 18.65 points, or 0.08 per cent, closing at 24,628.70. Of the total shares traded, 2,030 advanced, 1,146 declined, and 107 remained unchanged.

In the previous trading session on Tuesday, the Indian benchmark indices closed flat after a volatile session. The Sensex inched up by 1.59 points, ending at 81,510.05, while the Nifty dropped by 8.95 points, or 0.04 per cent, to close at 24,610.05.

The broader market continued to outshine the benchmarks, with the BSE Midcap index advancing by 0.2 per cent and the BSE Smallcap index gaining 0.4 per cent.

US indices closed lower on Tuesday, as declines in the technology sector offset gains in communications services. The Dow dropped by 0.35 per cent, the S&P 500 fell by 0.30 per cent, and the Nasdaq declined by 0.25 per cent.

Asian markets showed mixed results as investors awaited US inflation data. Japanese and Australian indices declined, while South Korean markets saw gains. S&P 500 futures remained flat.

Foreign Institutional Investors (FIIs) purchased Rs 1,286 crore worth of shares, while Domestic Institutional Investors (DIIs) bought shares worth Rs 606 crore.

The FII net short position increased from Rs 37,694 crore to Rs 46,572 crore.

Rupee Movement

The rupee fell by 2 paise to a record low of 84.87 against the US dollar in early trade on Wednesday, amid growing expectations of a change in the Reserve Bank's monetary policy following the appointment of Sanjay Malhotra as the new RBI governor. Forex traders noted that markets are now anticipating a rate cut in the upcoming monetary policy review in February.