Stock Market Highlights: Sensex, Nifty End Flat as Market Fails to Hold on to the Green Amid Choppy Trade
Stock Market HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty finished a choppy session nearly unchanged on Wednesday, having swung gains and losses in intraday trade. Selling pressure in oil & gas and FMCG shares countered buying interest in IT and financial shares. Globally, equities registered cautious gains amid easing concerns about interest rate hikes in the US after Fed Chair Jerome Powell refrained from talking on monetary policy in a speech on Tuesday.
Here are 10 key things to know about the January 11 session on Dalal Street:
1) The Sensex finished the day 10 points lower at 60,105.5 and the Nifty50 settled at 17,895.7, down 18.5 points from its previous close. During the session, the 30-scrip index gyrated in a range of 559 points around the flatline, hitting 60,364.8 and 59,805.8 at the strongest and weakest levels in intraday trade respectively, and the Nifty50 moved between 17,824.4 and 17,976.4.
2) A total of 32 stocks in the Nifty50 basket closed in the red. Bharti Airtel, Cipla, Divi’s, Apollo Hospitals, Hindustan Unilever, ONGC and Coal India — ending between 1.7 per cent and 3.5 per cent lower — were the top laggards. On the other hand, Hindalco, BPCL, Sun Pharma, UltraTech, HDFC Bank and TCS — rising between 1.3 per cent and 2.8 per cent for the day — were the top gainers.
3) Among heavyweights, Reliance Industries, Bharti Airtel, Hindustan Unilever and ITC were the biggest drags on the headline indices.
4) The Nifty FMCG was the top laggard among NSE’s sectoral indices, closing 1.1 per cent lower, dragged by Hindustan Unilever and ITC.
5) The Nifty Bank — whose 12 constituents include SBI, HDFC Bank, Kotak Mahindra Bank, Axis Bank and ICICI Bank — finished 0.5 per cent higher at 42,232.7, having broadly moved within the 42,300-41,750 range during the session.
6) Overall market breadth was skewed in favour of the bulls, as 1,866 stocks rose and 1,627 fell at the close on BSE.
7) The rupee spurted by 21 paise or 0.3 per cent to end at 81.58 against the US dollar.
8) European shares began the day in the green, aided by optimism over reopening in China and hopes of less aggressive US interest rate hikes. The pan-European Stoxx 600 index was up 0.1 per cent at the last count. The UK’s FTSE 100 was up 0.3 per cent, and France’s CAC and Germany’s DAX up 0.2 per cent each.
9) Earlier in the day, equities in other Asian markets grew stronger, with MSCI’s broadest index of Asia Pacific shares outside Japan quoting up 0.4 per cent.
10) S&P 500 futures were flat, suggesting a muted start ahead on Wall Street. On Tuesday, the S&P 500 finished 0.7 per cent higher, the Dow Jones rose 0.6 per cent and the tech stocks-heavy Nasdaq Composite one per cent.
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