NIFTY50, SENSEX end flat amid volatility; check top gainers and losers

Benchmark stock indices SENSEX and NIFTY closed flat after recovering from early lows in a volatile session on Monday, August 12.

NIFTY50 settled almost flat at 24,347, marginally down by 20.5 points, or 0.08%, after gyrating between highs and lows during the day trade. The index started on a weak note and fell to a low of 24,212 in early trade, with Adani group shares and bluechips coming under selling pressure. The index recovered losses and hit a high of 24,472 but failed to hold onto gains in the closing session.

SENSEX closed flat at 79,648, down by 56 points, or 0.07%, with 18 of its constituents ending in the red.

India benchmark indices saw some recovery in the afternoon session despite the volatility in the broader market, which was due to the positive trend in the global markets.

Indian markets started the session on a tepid note, followed by a steep recovery. However, the sell-off in the last session dragged the benchmark indices lower. Investors now look forward to domestic inflation numbers, which will be announced later in the day. Markets are anticipating ease in CPI inflation for the July month.

NIFTY Realty, Metal among lead sectoral gainers

NIFTY Realty, Metal Consumer Durables, and Oil & Gas were lead gainers. NIFTY Media PSU Bank and FMCG indices dropped the most.

Among gainers, NIFTY Realty rose the most by 1.32% amid growing expectations of a rate cut by the US Federal Reserve, which could also nudge RBI to cut rates. NIFTY Consumer Durables gained around 0.87%, while Metal index rose by 0.75%.

NIFTY Media tanked more than 2%, led by losses in SUN TV, which plunged over 10%. Losses in Network18 (3%), PVR Inox, and Hathway also dragged the index down. NIFTY PSU Bank dropped over 1.1%, while FMCG declined 0.8%.

ONGC, HeroMotocorp lead gainers and Adani Ports, NTPC top losers

Oil major ONGC rallied over 3% to hit a fresh 52-week high of ₹344.7 apiece on the NSE after the government said that gas prices from new wells would be at a 20% premium to old wells. ONGC shares later closed higher 2.5% at ₹341.15 apiece.

HeroMotoCorp also rallied over 2% ahead of its results, while private bank Axis Bank settled nearly 2% higher. Infosys rose by 1.2% and JSW Steel by 1.53%, rallying the metal index.

Adani group company Adani Ports was among the major losers. Adani Ports tanked 5% to hit a low of ₹1,457.35 intraday before settling 2.3% down at ₹1,498 apiece.

NTPC was the biggest loser, dropping 2.31%, while Dr Reddy's dropped 1.76%. Britannia Industries dropped 1.59%, and Adani Enterprises lost 1.46%.