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Stock Market Update: Sensex, Nifty Ended Flat after Hitting Fresh Highs Today

By: Business Desk

News18.com

Last Updated: August 25, 2021, 16:26 IST

The 30-pack S&P BSE Sensex ended up in the red and the blue-chip NSE Nifty50 index ended in the green

The 30-pack S&P BSE Sensex ended up in the red and the blue-chip NSE Nifty50 index ended in the green

The 30-pack S&P BSE Sensex ended up in the red at 55,944.43, down 14.77 points or 0.03 per cent and the blue-chip NSE Nifty50 index ended at 16,634.50, up 10.10 pts

The Indian markets on Wednesday ended flat amid the volatile session. The 30-pack S&P BSE Sensex ended up in the red at 55,944.43, down 14.77 points or 0.03 per cent and the blue-chip NSE Nifty50 index ended at 16,634.50, up 10.10 points or 0.6 per cent.

Auto stocks along with private banks and financials drove down the market, the most. Both the benchmark indices Sensex and Nifty had hit a fresh all-time high intraday today.

However, at close, other indices such as Nifty Midcap, Nifty Bank, Nifty Financial services ended in red shedding gains between 0.1-0.4 per cent. On the Nifty50, out of 30 stocks, 19 shares advanced, 31 declined. Adani ports, HDFC Life, Hindalco, ONGC, Coal India were the top gainers on Nifty50. On the flipside, Bajaj Finserv, Titan and Maruti were laggards.

“Domestic equities traded in a range bound today ahead of F&O expiry. Barring IT, metal and FMCG, most sectoral indices turned red towards the final session of the day. However, small cap stocks were in focus today with strong buying was seen in number of quality names. Additionally, investors continued to remain upbeat on IT stocks in the backdrop of sustained earnings visibility. Further, investors seem to be lapping-up FMCG stocks today. Volatility index surged over 2%. Adani Ports, HDFC Life, ONGC and Hindalco were among top Nifty gainers, while Bajaj Finserv, Titan, Maruti and Bharti Airtel were laggards,” Binod Modi, head strategy at Reliance Securities said.

General Insurance Corporation and Great Eastern Shipping were the top gainers on the BSE Sensex. On the other hand, Jindal Saw and Gujarat Fertilizers & Chemicals were biggest losers on BSE.

Benchmark Indices closed on a flat note with Nifty 50 closing +0.06 per cent and Sensex closing -0.03 per cent today. Some buying interest is seen in selected Oil & Gas, Metals, IT and FMCG stocks while some pressure is seen in Pharma, Realty and Auto stocks. Shares of sugar companies climbed after Cabinet hikes FRP for sugarcane, said Mohit Nigam, head PMS, Hem Securities.

At close, volatility gauge rose by 2 per cent ending at 13.5.

“Market opened positively but main indices closed on a flattish note due to muted performance by large caps. The broad market was more positive, as Midcaps bounced after the correction mode during the month, which lifted the morale of investors. The global market traded positive on COVID-19 vaccine approval and in anticipation of a dovish comment by the Fed chair in the upcoming meeting (Jackson Hole),"Vinod Nair, Head of Research at Geojit Financial Services said.

In early trade on Wednesday, Indian stock market touched an all-time high for the third consecutive session- thanks to positive global developments. The S&P BSE Sensex jumped 143.64 points or 0.26 per cent to hit 56,102 on August 25. Similarly, the Nifty50 also started in the positive territory at 16,676, up 142.15 points, or 0.40 per cent on Wednesday.

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first published:August 25, 2021, 15:59 IST
last updated:August 25, 2021, 16:26 IST