Sensex, Nifty settle almost flat in lacklustre trade

PTI, Aug 19, 2024, 4:38 PM IST

Representative image (source: Pexels)

Mumbai: Benchmark equity indices Sensex and Nifty ended on a flat note in a lacklustre trade on Monday, 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 per cent 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 per cent 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 US 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 as they bought equities worth Rs 766.52 crore, according to exchange data.

Domestic Institutional Investors (DIIs) bought equities worth Rs 2,606.18 crore on Friday.

Global oil benchmark Brent crude dipped 0.82 per cent to USD 79.03 a barrel.

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