Stock Market Trades Flat: Sensex Rises Marginally By 35 Points; Nifty At 19,450. Auto Leads

Stock update: On the 30-share Sensex platform, M&M, Tata Motors, IndusInd Bank, Maruti, PowerGrid, ICICI Bank were among gainers. TechM, Reliance, JSW Steel, Sun Pharma, Infosys, HUL emerged losers

In the broader markets, the BSE Midcap and Smallcap indices gained 0.2 per cent and 0.3 per cent, respectively.

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The two key equity benchmarks, Sensex and Nifty, on Thursday started trade with negative bias amid volatility. At 10.05 am, the BSE Sensex was marginally up by 35 points to 64,010. On the other hand, the NSE Nifty50 was trading at 19,450, up 7 points.

On the 30-share Sensex platform, M&M, Tata Motors, IndusInd Bank, Maruti, PowerGrid, ICICI Bank were among the gainers. On the downside, TechM, Reliance, JSW Steel, Sun Pharma, Infosys, HUL emerged losers. Among specific stocks, Patanjali Foods gained 1 per cent after it reported a 126 per cent jump in net profit to Rs 254.50 crore for Q2FY24. Lupin stocks were up 0.5 per cent after its Q2FY24 consolidated net profit jumped 3.8-fold to Rs 489.67 crore.

In the broader markets, the BSE Midcap and Smallcap indices gained 0.2 per cent and 0.3 per cent, respectively.

Sectorwise, the Nifty Auto and Metal indices advanced 0.2 per cent each. Realty stocks were also trading in the green. Nifty FMCG fell 0.25 per cent.

In the previous session on Wednesday, the S&P BSE Sensex ended at 64,976, up 33 points or 0.05 per cent, while the Nifty50 shut shop at 19,444, up 37 points or 0.19 per cent.

In Asian markets, Seoul, Tokyo, and Shanghai were trading in the positive territory, while Hong Kong quoted lower. The US markets ended on a mixed note on Wednesday.

Global oil benchmark Brent crude climbed 0.23 per cent to $79.72 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 84.55 crore on Wednesday, according to exchange data.

Meanwhile, Indian rupee appreciated 5 paise to 83.25 against the US dollar in morning trade on Thursday, as the crude oil price and the American currency retreated from their elevated levels. However, a muted trend in domestic equities and sustained foreign fund inflows weighed on the investor sentiments.

At the interbank foreign exchange, the rupee opened at 83.25, higher by 5 paise over its previous close. On Wednesday, the rupee closed at 83.30 against the American currency.