Stock Market Today: Nifty, Sensex End Flat After Two-Day Decline
The Nifty ended 0.03% lower, while the Sensex ended 0.01% higher.
Inside NSE headquarters in Mumbai. (Source: Vijay Sartape/NDTV Profit)
KEY HIGHLIGHTS
Economic Data Releases And Events For Nov 11
US: Banks Closed For Veterans Day
UK: Conference Board Leading Index — 8:00 p.m.
US Market Update: Futures Rises At Pre–Open
As of 3:37 p.m., the Dow Jones Industrial Average future rose 0.29% to 44,269.00, and the S&P 500 future rose 0.28% to 6,042.25. The Nasdaq 100 future rose 0.29% to 21,293.50.
Nifty, Sensex End Little Changed As Fall In Asian Paints, RIL Weigh On Rise In HDFC & ICICI Bank: Market Wrap
The NSE Nifty 50 and BSE Sensex ended the choppy session little changed on Monday. Asian Paints Ltd., and Reliance Industries Ltd. share prices dragged the indices, while HDFC Bank Ltd., and ICICI Bank Ltd. supported the benchmarks.
The Nifty 50 ended 6.90 points or 0.03% lower at 24,141.30, and the Sensex ended 9.83 points or 0.01% higher at 79,496.15.
During the session, the Nifty 50 rose 0.78% to 24,336.80, and the Sensex rose 0.77% to 79,001.34.
Asian Paints hit the lowest level since May 3, 2021 in Monday's session as analysts flagged concerns regarding its growth going forward after it earning estimates on all front during July–September
The Sensex was ended flat at 79,496.15.
The Nifty 50 ended 0.03% down at 24,141.30.
Indian equities commenced the week on a tepid note and weakness in the Mid/Smallcap segments put further pressure on the Index to trade lower; however, IT and Banking counters came to the rescue and helped the Index to recover but the higher levels did not last for long and erased all its gains to end the session at 24,141.30 with a loss of 6.90 points, said Aditya Gaggar, director, Progressive Shares.
"Barring IT and Banking Indices, all the other sectors ended the trade in red where Media and Metal were the major laggards. The underperformance by the Broader markets extended as Mid and Smallcaps corrected by 0.88% & 1.20% respectively. After testing both resistance (24,250) and support (24,000) levels, the Index has formed a Spinning Top candlestick pattern which indicates indecisiveness between the bulls and bears. A convincing move on either side is necessary for a clear trend," Gaggar said.
The Nifty Bank ended 0.61% higher at 51,876.75
Infosys Ltd., HDFC Bank Ltd., Power Grid Corp of India, Tata Consultancy Services Ltd., and ICICI Bank Ltd. added to the Nifty 50 index.
Asian Paints Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Mahindra & Mahindra Ltd., and Britannia Industries Ltd. weighed on the Nifty 50 index.
Top contribution to the Nifty 50 index.
On NSE, eight sectors declined, four advanced out of 12. The NSE Nifty Media declined the most, and the NSE Nifty IT rose the most.
Most sectoral indices ended lower.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.79% and 1.14% lower, respectively.
On BSE, 14 sectors declined, six advanced, and one remained unchanged out of 21. The BSE Healthcare declined the most, and the BSE Focused IT rose the most.
Market breadth was skewed in favour of sellers. Around 2,550 stocks declined, 1,545 stocks advanced, and 118 stocks remained unchanged on BSE.
Rupee Ends Flat Against Dollar
Rupee closed flat at 84.388 against the US dollar. It closed at 84.375 on Friday, according to data on Bloomberg.
India rupee ended 0.02% lower at 84.39 a dollar.
Market At Close
The NSE Nifty 50 and BSE Sensex indices ended little changed. The indices struggled to reverse two–day losses in Monday's session.
Infosys Ltd., HDFC Bank Ltd., and ICICI Bank Ltd. shares weighed on the Nifty 50 index.
Asian Paints Ltd., Reliance Industries Ltd., and Mahindra & Mahindra Ltd. dragged the Nifty 50 index.
The NSE Nifty IT rose the most, and the NSE Nifty Media declined the most.
The NSE Nifty Midcap 150 ended 0.81% down at 20,749.95
The NSE Nifty Smallcap 250 ended 1.19% down at 17,423.90
