Benchmark equity indices Sensex and Nifty ended on a flat note in a lacklustre trade on Monday (August 19, 2024), as investors preferred to remain on the sidelines awaiting further triggers.

Participants also booked profits in select blue-chip stocks amid high valuation concerns, according to experts.

In a range-bound trade, the 30-share BSE Sensex slipped 12.16 points or 0.02% to settle at 80,424.68. During the day, it hit a high of 80,724.40 and a low of 80,332.65.

The NSE Nifty edged up 31.50 points or 0.13% to 24,572.65 in a volatile trade.

Among the 30 Sensex firms, Mahindra & Mahindra, IndusInd Bank, Bharti Airtel, Axis Bank, Tata Motors and ICICI Bank were the biggest laggards.

In contrast, Tata Steel, Tata Consultancy Services, NTPC, JSW Steel, Asian Paints and Reliance Industries were gainers.

“The Indian market failed to catch up with the initial gains as there is a degree of profit booking witnessed in auto stocks due to a slowdown in demand,” said Vinod Nair, head of research, Geojit Financial Services.

In Asian markets, Shanghai and Hong Kong settled higher, while Seoul and Tokyo ended lower.

European markets were trading mostly higher. The U.S. markets ended in positive territory on Friday.

“Markets began the week on a muted note and ended nearly flat, taking a breather after Friday’s surge. Following an initial uptick, the Nifty traded within a narrow range,” Ajit Mishra, SVP, research, Religare Broking Ltd., said.

Foreign Institutional Investors (FIIs) turned buyers on Friday (August 16, 2024) as they bought equities worth ₹766.52 crore, according to exchange data.

Domestic Institutional Investors (DIIs) bought equities worth ₹2,606.18 crore on Friday(August 16, 2024).

Global oil benchmark Brent crude dipped 0.82% to $79.03 a barrel.

The BSE benchmark jumped 1,330.96 points or 1.68% to settle at 80,436.84 on Friday (August 16, 2024), marking its best single-day gains in more than two months. The NSE Nifty surged 397.40 points or 1.65% to settle at a two-week high of 24,541.15.

A man walks near the bronze statue of a bull outside the BSE in Mumbai. File
| Photo Credit: AP

The domestic stock markets climbed in early trade on September 28 but later gave up all the early gains to trade lower amid muted global trends and continuous foreign fund outflows.

The monthly derivatives expiry also added to the volatile trends in the markets.

The 30-share BSE Sensex climbed 287.32 points to 66,406.01 in early deals. The Nifty advanced 50.2 points to 19,766.65.

However, both the benchmark indices failed to carry forward the winning momentum and traded in the negative territory later. The 30-share BSE benchmark traded 64.71 points lower at 66,053.98 and the Nifty quoted 14.20 points down at 19,702.25.

Among the Sensex firms, Larsen & Toubro, JSW Steel, Axis Bank, Tata Steel, Sun Pharma and State Bank of India were the biggest gainers.

Tech Mahindra, Asian Paints, Hindustan Unilever, Bajaj Finance, ITC and Kotak Mahindra Bank were the major laggards.

In Asian markets, Shanghai quoted in the green while Tokyo and Hong Kong traded lower.

The U.S. markets ended on a mixed note on September 27.

“Even though the market is showing resilience, the undercurrent is weak. The dollar index at 106.59, the U.S. 10-year bond yield at 4.62% and Brent crude above $97 are strong headwinds that can pull the market down,” V.K. Vijayakumar, chief investment strategist at Geojit Financial Services, said.

Global oil benchmark Brent crude climbed 0.71% to $97.24 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹354.35 crore on September 27, according to exchange data.

“The rising U.S. bond yields on the back of the firm dollar index has resulted in foreign fund outflows in the month so far. However, India’s structural growth and key indicators would mean that investors cannot be bearish on local markets for long,” Prashanth Tapse, senior VP (Research) at Mehta Equities Ltd., said.

The BSE benchmark had climbed 173.22 points or 0.26% to settle at 66,118.69 on September 27. The Nifty gained 51.75 points or 0.26% to end at 19,716.45.

A man walks past the new logo of the Bombay Stock Exchange (BSE) building in Mumbai. File
| Photo Credit: Reuters

Equity benchmark indices fell in early trade on September 20 in tandem with weak trends in global markets ahead of the U.S. Federal Reserve’s interest rate decision.

Foreign fund outflows and a weak trend in index major HDFC Bank also added to the overall bearish trend.

Falling for the second day running, the 30-share BSE Sensex tumbled 611.48 points to 66,985.36. The Nifty declined 164.4 points to 19,968.90.

Among the Sensex firms, HDFC Bank fell the most and quoted over 3% lower. Reliance Industries, Bharti Airtel, Maruti, Titan and Hindustan Unilever were the other major laggards.

NTPC, IndusInd Bank, Axis Bank and Mahindra & Mahindra were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The U.S. markets ended in the negative territory on September 19.

“Markets may struggle in early Wednesday trade amid weak global cues as investors are likely to maintain caution ahead of the outcome of the U.S. FOMC [Federal Open Market Committee] meeting on interest rates later today. Nervousness will prevail as besides the U.S. Fed meeting, the BoE [Bank of England], the BoJ [Bank of Japan] are also scheduled to meet this week on their decision on interest rates,” Prashanth Tapse, senior VP [Research], Mehta Equities Ltd., said in his pre-opening market comment.

Global oil benchmark Brent crude fell 0.99% to $93.41 a barrel.

“There are too many challenges for the market in the near-term. Brent crude at $94, the dollar index above 105, the U.S. bond yield at 5.09% and the INR at record lows against the dollar are strong headwinds,” said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹1,236.51 crore on September 18, according to exchange data.

Equity markets were closed on September 19 on account of Ganesh Chaturthi.

Snapping its 11-day rally, the BSE benchmark fell 241.79 points or 0.36% to settle at 67,596.84 on September 18. The broader Nifty declined 59.05 points or 0.29% to end at 20,133.30.

After a weak beginning, the BSE Sensex further fell by 187.11 points to 65,693.41. The Nifty declined 55.35 points to 19,555.70. File

Domestic equity benchmark indices fell in initial trade on September 7 tracking weak global markets and foreign fund outflows.

After a weak beginning, the BSE Sensex further fell by 187.11 points to 65,693.41. The Nifty declined 55.35 points to 19,555.70.

From the Sensex pack, Mahindra & Mahindra, Bajaj Finance, Nestle, UltraTech Cement, JSW Steel, Hindustan Unilever, Infosys and Power Grid were the major laggards.

Maruti, State Bank of India, Larsen & Toubro and Bharti Airtel were among the gainers.

In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading lower.

The U.S. markets ended in the negative territory on September 6.

Global oil benchmark Brent crude declined 0.19% to $90.43 a barrel.

“A major concern in the market is the Brent crude rising above $90 with negative implications for India’s macros and inflation,” said V.K. Vijayakumar, chief investment strategist at Geojit Financial Services.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,245.86 crore on Wednesday, according to exchange data.

Fag-end buying helped the BSE benchmark climb 100.26 points or 0.15% to settle at 65,880.52 on September 6. The Nifty advanced 36.15 points or 0.18% to end at 19,611.05.