Stock Market: Sensex, Nifty Trade Flat Amid Volatility. SBI Card Tanks 6 Per Cent; Banks Top Drag

Stock update today: On the 30-share Sensex platform, SBI was the top loser, slipping 3.26b per cent, followed by Axis Bank, Bajaj twins, HDFC Bank, ICICI Bank, Kotak Bank, and others

In the broader markets, the BSE Midcap index dropped 0.2 per cent, while Smallcap pocket was flat. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, on Friday were trading flat after paring opening losses amid global cues. At 10.15 am, the BSE Sensex fell 106 points to 65,876. On the other hand, the NSE Nifty50 was trading at 19,754, down 10 points.

On the 30-share Sensex platform, SBI was the top loser, slipping 3.26b per cent, followed by Axis Bank, Bajaj twins, HDFC Bank, ICICI Bank, Kotak Bank, and others. On the flip side, Asian Paints, Nestle, M&M, HUL, Maruti, HCLTech emerged early gainers. Among specific stocks, SBI Card tanked 6 per cent following an RBI mandate.

#ABPStockMarketWatch | Sensex and Nifty were trading flat amid volatility after paring opening losses, on Friday

At 12:51 PM, #Sensex dipped by 69 points to 65,913 & #Nifty by 3 points to 19,761

Here's a look at the stocks in focus:#ABPLive #MarketWatch pic.twitter.com/263z77543T

— ABP LIVE (@abplive) November 17, 2023

In the broader markets, the BSE Midcap index dropped 0.2 per cent, while Smallcap pocket was flat.

Sectorwise, PSU Bank index dropped 2 per cent, while auto, FMCG, pharma, capital goods up nearly 1 per cent each.

In the previous sesion on Thursday, the S&P BSE Sensex surged 307 points to end at 65,982, while the NSE Nifty50 closed at 19,765, up 90 points.

In Asia, markets in Seoul, Shanghai, and Hong Kong were trading in the red, while Tokyo traded in the green. The US markets ended on a mixed note on Thursday.

Global oil benchmark Brent crude climbed 0.25 per cent to $77.61 a barrel.

Foreign Institutional Investors (FIIs) were buyers on Thursday as they bought equities worth Rs 957.25 crore, according to exchange data.

Meanwhile, Indian rupee dipped by 2 paise to 83.25 against the US dollar on Friday as a stable greenback in the overseas markets weighed on investor sentiments. At the interbank foreign exchange market, the Indian curreny opened flat at 83.23 against US dollar following overnight losses in crude oil prices.

However, a firm US dollar and weak domestic equity markets restricted the rupee movement and the local currency edged lower by 2 paise to 83.25 in early trade. The rupee closed at 83.23 against the greenback on Thursday. The dollar index, which gauges the greenback's strength against a basket of six currencies, was flat at 104.35.