Markets end the day on a flat note

Equity markets ended the day on a flat note. Nifty 50 ended, down by 8.90 points. Sensex ended, down by 37.70 points. Top gainers today were Tata Consumer, Cipla, and Shree Cement. Top losers today were Hero Motors, Adani Ports and Titan. 

Indian equty markets saw much swinging movement today. Markets started the day in green. But then they turned red. Some recovery happened in the later half of the day. The worsening of global economic situation is now weighing on market sentiments more heavily. There is also some anxiety because of the imminent interest rate hike by RBI. Banking, Auto, and Financial Services sectors saw much selling today. IT stocks gained. A depreciating rupee can be beneficial for IT firms in the sense that their dollar income gets translated into higher amount in rupee terms. FMCG stocks also saw buying.  During times of economic anxiety, FMCG stocks see buying because of their non-cyclical nature.