Stock Market Updates: Sensex Trades on Positive Note, Nifty Holds 19,750; Suzlon Surges 5%

Sensex Today: Domestic markets started Tuesday’s trade flat, despite firm global cues. Frontline indices the S&P BSE Sensex hovered around 66,559 levels, whereas Nifty50 was flat above 19,750.

Broader markets, however, exhibited outperformance against benchmark indices. Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 0.6 per cent.

Sectorally, Nifty Metal index was the worst hit as it declined over 1 per cent. On the flipside, Nifty Metal and Nifty IT indices surged up to 0.6 per cent.

Among individual stocks, shares of Power Grid fell 3 per cent after consolidated net profit dropped 5 per cent year-on-year (YoY) to Rs 3,597 crore in Q1FY24.

Global Cues

Globally, Asia-Pacific markets were mixed as China’s Caixin purchasing managers index in July for the manufacturing sector fell into contraction territory for the first time since April.

Hong Kong’s Hang Seng index was 0.63 per cent higher, but mainland China’s Shenzhen Component was down 0.1 per cent. In Australia, the S&P/ASX 200 climbed 0.25 per cent, ahead of the Reserve Bank of Australia’s rate decision. Japan’s Nikkei 225 rose 0.45 per cent, while South Korea’s Kospi advanced 1.13 per cent.

Overnight, the Dow Jones Industrial Average added 0.28 per cent, while the S&P 500 edged up 0.15 per cent, and the Nasdaq Composite rose 0.21 per cent.