Sensex Closes Flat in Volatile Trade; Nifty Edges Up as Metals and IT Lead Gains

August 19, 2024: Hindalco, BPCL, and Tata Steel Among Top Gainers; Auto and Banking Sectors Lag, Midcap and Smallcap Indices Outperform

Indian benchmark indices closed flat after a volatile trading session on August 19.The Sensex slipped by 0.02 per cent, to settle at 80,424.68, while the Nifty inched 0.13 per cent, to 24,572.70. 

Within the Nifty 50, Hindalco Industries, BPCL, Shriram Finance, Tata Steel, and LTIMindtree emerged as the top gainers on the Nifty, while M&M, Bajaj Auto, Axis Bank, IndusInd Bank, and SBI Life Insurance were the leading losers.

On the sectoral front, all indices closed higher except for auto and banking. Healthcare, IT, metal, oil & gas, power, telecom, and media sectors posted gains of 0.5-2 per cent. Meanwhile, the BSE midcap index increased by 0.5 per cent, and the smallcap index rose by 1 per cent.

 Market breadth showed 2,462 shares advancing, 1,089 shares declining, and 101 shares remaining unchanged.

Market Update at 2:10 PM: 

The major indices continued to trade flat. At 2:10 pm, the BSE Sensex surged 0.01 per cent reaching a level of 80,455. The Nifty 50 index added 0.15 per cent to the 24,579 level. 

Broader indices, however, lagged behind the main indices. The BSE Mid-Cap Index rose by 0.31 per cent, while the BSE Small-Cap Index experienced a more significant increase, rising by around 0.14 per cent.

Within the Nifty 50, Hindalco, BPCL and Tata Steel were among the leading gainers, whereas M&M, Bharti Airtel and SBI Life were among the market draggers.

Considering sectoral developments, Nifty Metal and Nifty Energy were among the Top Gainers, while Nifty Auto and Nifty Financial Services were notable laggards.

With 1910 shares rising on the NSE and 739 shares declining, the advance-decline ratio strongly remained in favour of inclines.

Market Update at 12:30 PM:

The Sensex and Nifty are showing little movement due to market volatility, while the auto, real estate, and banking sectors face challenges. In contrast, all other sector indices are performing positively.

At 12:30 pm, the BSE Sensex lost 0.05 per cent reaching a level of 80,395. The Nifty 50 index added 0.05 per cent to the 24,552 level. 

Within the Nifty 50, Hindalco, BPCL and LTI Mindtree were among the leading gainers, whereas M&M, Bharti Airtel and Axis Bank were among the market draggers.

With 1,944 shares rising on the NSE and 716 shares declining, the advance-decline ratio remained in favour of inclines.

Market Update at 11:15 AM:

After an early upward trend, frontline indices have pared their gains and are now trading flat. As of 11:15 am, the BSE Sensex has edged down by 0.11 per cent to 80,344, while the Nifty 50 index has inched up by 0.04 per cent to 24,531.

Broader indices extended their gains. Considering sectoral developments, Nifty Media and Nifty Energy were among the top gainers, while Nifty Auto, Nifty Financial Services and Nifty Realty were notable laggards.

Within the Nifty 50, Hindalco, LTI Mindtree and BPCL were among the leading gainers, whereas M&M, Grasim Industries and SBI Life were among the market draggers.

Out of the total, 2,409 shares saw an increase, 973 shares experienced a decline, and 131 shares remained stable, the advance-decline ratio strongly remained inclined.

Market Update at 9:30 AM:

Boosted by positive global cues, Indian indices opened higher on August 19, with the Nifty surpassing 24,600. The Sensex rose by 215.33 points, or 0.27 per cent, to reach 80,652.17, while the Nifty gained 82.10 points, or 0.33 per cent, to stand at 24,623.30. 

In terms of sectoral performance, Nifty Media and Nifty Oil & Gas were the only gainers, while Nifty IT, Nifty Auto, and Nifty Healthcare Index emerged as notable laggards.

ONGC, BPCL, Shriram Finance, NTPC and Hindalco were among major gainers on the Nifty, while losers were HUL, Infosys, Bajaj Auto, HDFC Life and Maruti Suzuki. With 1752 shares rising on the NSE and 459 shares declining, the advance-decline ratio remained in favor of declines.

Pre-Market Update at 8:30 AM: 

US stocks ended higher on Friday, extending their biggest weekly percentage gains of the year as worries of an economic downturn eased and investors focused on the Jackson Hole Economic Symposium next week.

The Dow Jones Industrial Average rose 0.24% to 40,659.76. The S&P 500 gained 0.20% at 5,554.25 and the Nasdaq Composite added 0.21% at 17,631.72. The US dollar was struggling to make headway against its peers on Monday

Asian stocks were taking a breather on Monday after global equities enjoyed their best week in nine months on expectations the US economy would dodge a recession and cooling inflation would kick off a cycle of interest rate cuts.The GIFT Nifty is trading higher, indicating a positive start for the day.

Oil prices eased in early Asian trading on Monday as fears of weaker demand in top oil importer China weighed on market sentiment while investors focus on the progress of ceasefire talks in the Middle East, which could reduce supply risks.

On August 16, foreign institutional investors (FIIs) bought shares worth Rs 766 crore, while domestic institutional investors (DIIs) made a sizeable inflow of Rs 2,606 crore.