Market Update: Indian stock markets trade flat

8 May 2024 , 01:27 PM

Indian benchmark indices showed muted performance on Wednesday. The Sensex gained 103.04 points or 0.14 percent, reaching 73,614.89, while the Nifty rose by 40.50 points or 0.18 percent, reaching 22,343.00.  Among the traded shares, 1,989 rose, 1,185 fell, and 106 remained unchanged.

Across sectors, the Bank, Financial Services, and Consumer Durables indices experienced declines, while the Oil & Gas, PSU Bank, Metal, Media, Auto, and FMCG indices recorded gains. The broader market witnessed gains, with the BSE SmallCap rising by 0.86% and the BSE MidCap by 0.97%.

Among the Nifty 50 stocks, 20 were in the red. Dr. Reddy’s, Asian Paints, Hindustan Unilever, Shriram Finance, and HDFC Bank were the top decliners, while BPCL, Coal India, NTPC, Power Grid Corp., and Tata Motors were the top gainers.

Within the BSE Sensex, 12 out of 30 stocks ended in the negative zone. Asian Paints, Hindustan Unilever, HCLTech, HDFC Bank, and UltraTech Cement witnessed losses, while NTPC, Power Grid Corp., Tata Steel, Tata Motors, and SBI were the top gainers.

Provisional data from the NSE showed that Foreign institutional investors (FIIs) net sold shares worth ₹3,668.84 Crore, while domestic institutional investors (DIIs) infused ₹2,304.50 Crore on May 7.

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