Govt reduces subsidised LPG cylinders under Ujjwala Yojana from 9 to 4, Ayushman Bharat PM Jan Arogya Yojana achieves nationwide coverage with West Bengal joining scheme, Renuka Bhatia resigns from the post of Chairperson of the Haryana State Commission for Women,

Sensex close flat amid volatile trading, Nifty retains 25K level

The Indian equities started the day flat on Tuesday, with the Sensex and Nifty showing minimal movement as traders eye potential profit-booking near their peak levels. Meanwhile, the global rally, buoyed by hopes of a U.S. interest rate cut, seems to have lost momentum, adding to the cautious sentiment in the domestic markets.At close, the Sensex was up 13.65 points or 0.02 percent at 81,711.76, and the Nifty was up 7.15 points or 0.03 percent at 25,017.75. About 2036 shares advanced, 1746 shares declined, and 86 shares unchanged.
SBI Life Insurance, Maruti Suzuki, Bajaj Finserv, Shriram Finance and HDFC Life were the top gainers on the Nifty, while losers included HUL, JSW Steel, Titan Company, Tata Motors and Grasim Industries.
On the sectoral front energy, metal and FMCG were down 0.5-1 percent, while bank, capital goods, healthcare, IT, realty, pharma, media were up 0.2-4 percent.BSE Midcap and Smallcap index rose 0.5 percent each.
Rupee Close:
On 27 Aug'24,the Indian Rupee depreciated by 5 paise to close at 83.92 against the US Dollar on Tuesday, driven by rising crude oil and commodity prices.However, positive domestic markets and a soft US dollar cushioned the downside, forex traders reportedly stated.
Trading Guide:
Vinod Nair, Head of Research, Geojit Financial Services reportedly quoted as saying,the domestic market witnessed profit-booking near record highs. While the positive expectations regarding a potential rate cut by the Fed in September remain, the recent geopolitical tensions and rising crude oil prices have made investors cautious amid high valuations.IT and financial stocks continued to perform well, whereas FMCG and metal stocks saw declines. Further, the recent shift in FII stance towards the domestic market and the anticipation that the RBI will align with the Fed’s actions are expected to foster a positive outlook in the near term.
Market experts have recommended five shares to buy today- Fiem Industries, Cipla, Deepak Nitrite, JK Lakshmi Cement, and Sterlite Technologies.

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

 


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