Sensex Today: Benchmark indices BSE Sensex and Nifty 50 ended Tuesday’s trading session on a muted note in a day marred by subdued sentiment and a lack of major triggers.
The markets remained rangebound and in the red for most of the day, as investors awaited the release of US manufacturing data later in the day there, and jobs data scheduled for release on Friday, to decipher how big or small the likley rate cut by the US Federal Reserve would be.
In the domestic market, the BSE Sensex, which traded in the red for most of the day, shed 4.40 points or 0.01 per cent to settle at 2,555.44, at close.
However, the Nifty 50 gained 1.15 points to maintain its streak of closing in the green for the 14th straight session. It closed nearly flat at 25,279.5.
That apart, 21 out of the 50 stocks in the Nifty 50 ended higher.
Gains, of up to 1.72 per cent, were led by SBI Life, Bajaj Finserv, ICICI Bank, HDFC Life, and Hero MotoCorp, while Bajaj Finance, ONGC, Infosys, Adani Ports & SEZ, and HCLTech were the top losers, falling up to 1.36 per cent at close.
Meanwhile, 12 out of the 30 stocks in the BSE Sensex ended in the green.
Gains were led by ICICI Bank, Bajaj Finserv, Titan, HDFC Bank, and Nestle India, on the 30-stock index, while losses were led by Bajaj Finance, Infosys, Adani Ports & SEZ, JSW Steel, and HCLTech.
However, the broader market indices defied the trend of the frontline indices and ended the day higher.
The BSE SmallCap index gained 0.54 per cent, while the BSE MidCap ended 0.19 per cent ahead.
Across sectors, the Consumer Durables index was the top sectoral gainer, followed by Bank and Financial Services, while the Media index was the top laggard, followed by Metal, Realty and Oil & Gas.
Meanwhile, the Bank and Financial Services indices closed in the green.
Market View | Going forward, it is advisable to take a pragmatic approach and refrain from getting carried away by the Nifty’s winning streak. Maintaining exclusivity while stock selection and staying light on positions is recommended. Furthermore, closely monitoring the global markets, which have significantly impacted our market’s initial tone, is essential, said Osho Krishan, Senior Analyst – Technical & Derivatives, Angel One.
Global Cues
Share markets around the world fell slightly on Monday as investors braced for a data-packed week culminating in a US jobs report that could decide whether a rate cut expected this month will be regular or super-sized.
Survey data released on Saturday showed Chinese manufacturing activity sank to a six-month low in August, and data on Monday showed euro zone factories are also still struggling.
Wins for the populist parties in German state elections added a fresh layer of political uncertainty in European markets, while a holiday in the United States and Canada made for thin liquidity.
Europe’s STOXX 600 index fell 0.21 per cent, after hitting a record high on Friday. Germany’s DAX and Britain’s FTSE 100 were down 0.1 per cent and 0.2 per cent, respectively.
Chinese stocks lost 1.7 per cent, led by losses in real estate after a survey showed home prices growth had slowed.
Futures for the US S&P 500 index were down 0.1 per cent, while those for the tech-laden Nasdaq 100 were flat.
That apart, Asia-Pacific markets were mostly higher on Tuesday as investors digested South Korea’s inflation numbers for August that were at its lowest on a year-on-year (YoY) basis since March 2021.
The country’s consumer price index recorded a 2 per cent rise YoY, coming down from July’s 2.6 per cent, and in line with expectations from a Reuters poll of economists.
South Korea’s Kospi was trading 0.17 per cent higher, and the small cap Kosdaq was marginally ahead by 0.02 per cent.
Meanwhile, elsewhere, Japan’s Nikkei 225 was trading 0.18 per cent higher in early trades, and the broader Topix was up 0.38 per cent.
However, Australia’s S&P/ASX 200 was down 0.39 per cent, and futures for mainland China’s CSI 300 was mostly flat at 3,267.5, compared to its previous close of 3,265.
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