Stock Market Today: Sensex, Nifty Trade Flat. Metals, Auto Rise; J&K Bank Jumps 6 Per Cent

Stock update: On the 30-share Sensex platform, UltraCemco, ITC, PowerGrid, Tata Steel, TCS, M&M emerged gainers. Bharti Airtel, L&T, Infosys, Titan, Axis Bank, Maruti were among the losers

Sensex and Nifty, the two key equity benchmarks that started trade on a tepid note, turned flat on Tuesday, tracking global sentiment. At 9.48 am, the BSE Sensex was marginally up 35 points 69,963. On the other hand, the NSE Nifty50 was trading at 21,022, up 25 points.

On the 30-share Sensex platform, UltraCemco, ITC, PowerGrid, Tata Steel, TCS, M&M emerged gainers. On the downside, Bharti Airtel, L&T, Infosys, Titan, Axis Bank, Maruti were among the losers. Among specific stocks, shares of Jammu and Kashmir (J&K) Bank opened 6 per cent higher on Tuesday as the lender has launched a Qualified Institutional Placement to raise Rs 750 crore. 

A total of 2,010 shares advanced, 971 declined, while 104 remain unchanged.

In the broader market, the BSE Midcap index rose 0.3 per cent and Smallcap index gained 0.6 per cent.

Sectorally, all indices were trading in the green zone, with metals, auto, FMCG, and pharma rose higher, while selling is seen in the oil & gas, power and capital goods.  

In the previous session on Monday, the S&P BSE Sensex closed 103 points higher at 69,929, while the NSE Nifty 50 ended at 20,997, up 28 points.

V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said, "Markets will be keenly watching the inflation print from the US tonight and the Fed's message on Wednesday."

In Asia, markets in Seoul, Tokyo, Shanghai, and Hong Kong were trading in the green zone, while the US markets ended with gains on Monday.

Global oil benchmark Brent crude climbed 0.32 per cent to $76.27 a barrel on Tuesday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 1,261.13 crore on Monday, according to exchange data. 

Meanwhile, Indian rupee rose 1 paisa to 83.36 against the US dollar in early trade on Tuesday amid foreign fund inflow and softening of the American currency against its major rivals. Forex traders said positive cues from the domestic equity market also boosted investors' sentiment while the upward movement of crude oil prices weighed on the Indian currency.

At the interbank foreign exchange market, the local unit opened at 83.36 against the greenback. The rupee touched the intra-day peak of 83.35 before trading at 83.36 against the American currency, up 1 paise from its previous close. On Monday, the domestic currency settled at 83.37 against the US dollar.