Market closes with marginal gains; Nifty Auto emerges as sole gainer

The BSE Sensex edged up by 0.04 per cent reaching a level of 81,086. The Nifty 50 index edged up by 0.05 per cent to the 24,823 level.

Indian headline indices closed flat with marginal gains for the second consecutive trading session, while global markets showed mixed performance ahead of the US Federal Reserve’s key outlook on potential interest rate cuts.

The BSE Sensex edged up by 0.04 per cent reaching a level of 81,086. The Nifty 50 index edged up by 0.05 per cent to the 24,823 level. 

Within the Nifty 50, Bajaj Auto, Coal India and Bharti Airtel were among the leading gainers, whereas LTIMindtree, Wipro and Oil & Natural Gas Corporation were among the market draggers.

The BSE Mid-Cap Index saw a notable decline of 0.66 per cent, while the BSE Small-Cap Index experienced upbeat investor sentiment, gaining 0.15 per cent. Quint Digital Ltd, Balu Forge Industries Ltd and SEPC Ltd were the Top Gainers among small-cap stocks.

All sectoral indices were trading in the red, except for Nifty Auto, which was led by gains in Bajaj Auto and TVS Motors.

Market Update at 2:30 PM: While European markets were in a strong uptrend, Indian domestic indices maintained their early gains. At 2:30 pm, the BSE Sensex edged up by 0.09 per cent reaching a level of 81,122. The Nifty 50 index gained 0.13 per cent to the 24,844 level. 

Within the Nifty 50, Bajaj Auto, Coal India and Sun Pharmaceutical Industries were among the leading gainers, whereas Wipro, LTIMindtree and Tata Consultancy Services were among the market draggers.

With 1,340 shares rising and 1,336 shares declining on the NSE, the advance-decline ratio stayed neutral.

In terms of sectoral performance, Nifty Auto and Nifty Financial Services were the only sectors in the green today, while Nifty Realty, Nifty Media, and Nifty IT saw the steepest declines.

Market Update at 12:45 PM: Domestic indices remained range-bound, while broader indices reflected mixed investor sentiment. At 12:45 pm, the BSE Sensex edged up by 0.07 per cent reaching a level of 81,110. The Nifty 50 index added 0.09 per cent to the 24,833 level. 

Within the Nifty 50, Bajaj Auto, Tata Motors and Bharat Petroleum Corporation were among the leading gainers, whereas LTIMindtree, Divi’s Laboratories and Tech Mahindra were among the market draggers. According to a JM Financial note, retail giant Trent and public sector firm Bharat Electronics may be added to the Nifty 50 index, while Divi's Laboratories and LTIMindtree could be removed.

With 1,297 shares rising on the NSE and 1,246 shares declining, the advance-decline ratio slightly remained in favour of advances. Central Depository Services (India) Ltd, Apar Industries Ltd and Finolex Cables Ltd were the top gainers among small-cap stocks.

Market Update at 11:25 AM: After a sluggish start in today's early trades, Indian benchmarks gained positive momentum, mirroring the trend in most Asian indices. At 11:25 am, the BSE Sensex gained 0.11 per cent reaching a level of 81,142. The Nifty 50 index added 0.14 per cent to the 24,846 level. 

Within the Nifty 50, Bajaj Auto, Tata Motors and Hero Motocorp were among the leading gainers, whereas LTI Mindtree, Wipro and Divi’s Laboratories were among the market draggers.

With 1,359 shares gaining and 1,139 shares declining on the NSE, the advance-decline ratio favoured advances.

In terms of sectoral performance, Nifty Auto and Nifty Financial Services were the best performers, while Nifty Realty, Nifty IT and Nifty Media experienced the most decline.

Market Update at 9:40 AM: Indian headline indices started today's trading session on a muted note, fluctuating between modest gains and losses in early trades.

At 9:40 am, the BSE Sensex fell 0.15 per cent reaching a level of 80,935. The Nifty 50 index declined 0.13 per cent to the 24,778 level. Within the Nifty 50, Bajaj Auto, Hero Motocorp and Tata Motors were among the leading gainers, whereas LTI Mindtree, Infosys and Wipro were among the market draggers.

Broader market sentiment was mixed, with the BSE Mid-Cap Index notably reporting losses, while the BSE Small-Cap Index posted a considerable gain of 0.20 per cent. With 1,172 shares rising on the NSE and 1,153 shares declining, the advance-decline ratio slightly remained in favour of advances.

In terms of sectoral performance, the Nifty Auto Index was the only one in the green today, while Nifty IT, Nifty Realty, and Nifty Consumer Durables experienced the steepest declines.

Pre-Market Update at 8:30 AM: The U.S. market experienced a significant pullback overnight, with tech shares taking the hardest hit due to weak investor sentiment driven by rising bond yields and anticipation of Powell’s outlook. The Nasdaq Composite Index plunged 1.67 per cent, the S&P 500 tumbled 0.89 per cent, and the Dow Jones Industrial Average fell 0.43 per cent. The dollar remained steady ahead of Powell's speech.

As expected, major Asian markets mirrored the overnight weakness in today's trades. Meanwhile, the GIFT Nifty was trading at a slight premium compared to the previous close of Nifty futures, indicating a modestly positive opening for Indian frontline indices.

Oil is set for a weekly loss after declining for a fifth consecutive session on Thursday, as investors grew concerned about the global demand outlook. This came despite a drop in U.S. fuel inventories, with worries fuelled by a challenging demand environment, falling product prices, and ongoing geopolitical tensions.

On August 22, both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers, with FIIs purchasing shares worth Rs 1,371.79 crore and DIIs making a significant inflow of Rs 2,971.89 crore.