Market wrap: Nifty and Sensex flat in volatile session

The domestic share market indices traded on a flat note in the volatile session on Wednesday, though the major stock market indexes opened on a positive note, driven by banking and IT stocks, following the release of soft U.S. retail sales data which strengthened expectations of the Federal Reserve cutting interest rates in September.However, the market couldn't sustain the early momentum, oscillating between positive and negative territory throughout the session, and closed with a slight change.
At close, the Sensex was up 36.45 points or 0.05 percent at 77,337.59, and the Nifty was down 41.90 points or 0.18 percent at 23,516.00. About 1430 shares advanced, 1969 shares declined, and 62 shares unchanged.
Highlights of Trade:
●SBI approves raising up to Rs 20,000 cr in FY25 via bonds,
●Bharti Airtel acquires 1% additional stake in Indus Towers,
●Vodafone likely sells 19% stake in Indus Tower
●Sansera Engineering surges 7% on a likely 10.7%equity block deal,
●UBS maintains a buy rating on Apollo Hospitals,
● Motilal Oswal  recommends a buy rating on Titan Company
HDFC Bank, Axis Bank, ICICI Bank, IndusInd Bank and Kotak Mahindra Bank were the top gainers on the Nifty, while losers included Titan Company, Maruti Suzuki, L&T, Hindalco and Bharti Airtel.
On the sectoral front, except bank (up 2 percent) and IT (up 0.4 percent), all other indices ended in the red with auto, capital goods, metal, oil & gas, power and realty down 1-3 percent.BSE Midcap index fell 1 percent and Smallcap index shed 0.6 percent.
Rupee Close:
On 19 June'24,the Indian rupee ended 4 paise lower at 83.45 against the US dollar on Wednesday, as demand for dollars from local importers and oil companies pushed the currency down from its two-week high, which was driven by inflows into equity and debt markets. 
Trading Guide: 
Market experts recommended three stocks to buy today - GNFC, IndusInd Bank, and Manappuram Finance.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)