Stock Market: Sensex, Nifty Trade Flat Amid Volatility. ITC Gains 1 Per Cent; FMCG In The Green

Stock Update: On the 30-share Sensex platform, M&M, ICICI Bank, Bajaj Finserv, Asian Paints, L&T, Maruti, SBI were among the losers

The two key equity benchmarks, Sensex and Nifty, on Wednesday were trading flat amid volatility. The indices, which opened with marginal losses, were tracking weakness across global markets. At 9.51 am, the BSE Sensex index was at 67,196, down 24 points. On the other hand, the NSE Nifty was trading at 19,990, down 3.45 per cent.

On the 30-share Sensex platform, M&M, ICICI Bank, Bajaj Finserv, Asian Paints, L&T, Maruti, SBI were among the losers. On the flip side, ITC, Nestle, UltraCemco, PowerGrid, Titan, Reliance emerged early gainers. Among specific stocks, KEC International jumped 9 per cent on bagging orders worth Rs 1,012 crore.

 

In the broader markets, the BSE Midcap index was trading flat, while the Smallcap index rose 0.8 per cent, slightly recovering from its 4 per cent slump the previous day. 

Sectorwise, except FMCG and Oil & Gas, all other sectoral indices are trading in the red.

In the previous session on Tuesday, the Sensex ended at 67,221, up 94 points. On the other hand, the NSE Nifty50 closed at 19,993, down 3 points.

In Asian markets, Seoul, Shanghai, and Hong Kong quoted lower while Tokyo traded in the green. The US markets ended in the negative territory on Tuesday.

Global oil benchmark Brent crude climbed 0.20 per cent to $92.24 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,047.19 crore on Tuesday after a day's breather, according to exchange data.

Retail inflation declined to 6.83 per cent in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the Reserve Bank's comfort zone.

Meanwhile, the rupee witnessed a range-bound trading against the US dollar in early trade on Wednesday, as the support from positive macroeconomic data was negated by elevated crude oil prices and a firm American currency. Forex traders said domestic retail inflation data and industrial production figures were better than market expectations and supported investors' sentiments. However, investors are awaiting cues from the CPI data from the US to know the path the US FED will tread in its fight for lower inflation.

At the interbank foreign exchange, the rupee was trading in a narrow range. It opened at 82.92 against the dollar. It touched a low of 82.95 against the American currency in initial trade. On Tuesday, the rupee closed at 82.95 against the US currency.