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Sensex, Nifty End Flat; Broader Indices Outperform

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The Sensex ended the day down 85.4 points at 51579.60 or 0.16 percent, and the Nifty is down 1.35 points, or 0.01 percent, at 15,576. The metal, auto, and PSU banking names helped the benchmark indices rebound from the day's low point and conclude flat.

 

As the Reserve Bank of India's monetary policy meeting begins today, banking equities have been essentially flat. The day's leading laggards were heavyweight private bank equities, which countered gains from state-owned banks.

Sensex, Nifty End Flat; Broader Indices Outperform

The Nifty sectors indices were mixed, with the Nifty IT index losing the most ground, down 1%. The Nifty PSU Bank index, on the other hand, was trading 2% higher.

On the Nifty, significant gainers were UPL, Adani Ports, IndusInd Bank, SBI Life Insurance, and HDFC Life, while significant losers included ITC, Tech Mahindra, HDFC, Axis Bank, and Kotak Mahindra Bank.

The banking, financial, FMCG, and IT industries were the biggest drags.

Vedanta, Tata Steel, and JSW Steel led the BSE metal index higher by 1%.
Motherson Sumi, Bharat Forge, and Balkrishna Industries led the Nifty auto index higher by 1%.

BSE Midcap and Smallcap indices added over 1 percent each.

 

The FTSE is up half a percent, indicating that European markets are in the green.

Despite the negative market, the Nifty Realty Index maintained its winning record. SunTeck Realty was the highest gainer in the Index, gaining 1.5 percent. Brigade and Phoenix Limited were also in the driver's seat. In an otherwise all-green industry, HemiSphere Properties was under pressure.

According to PTI, Saudi Arabia's main stock market halted trading on Wednesday due to a "technical issue."

According to government data issued on Wednesday, India's exports increased by 67.39 percent to USD 32.21 billion in May, owing to strong development in industries such as engineering, pharmaceuticals, petroleum products, and chemicals.

GoodReturns.in

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