Metals Help Nifty End Flat After Volatile Trading Session

  • Stock Market News
Metals Help Nifty End Flat After Volatile Trading Session
Credit: © Reuters.

By Aditya Raghunath -- Nifty 50  closed up 2 points and the BSE Sensex 30 closed down 29 points after late buying helped the markers end higher than the day’s lows.

Nifty is staying close to the 16,300 mark. The movements are similar to what the Nifty went through in June and July, consistently coming close to 16,000 but unable to cross it.

Massive buying in metal stocks got the markets up. Top Nifty gainers were Tata Steel Ltd (NS: TISC ) with 4%, JSW Steel Ltd (NS: JSTL ) at 3.48%, Indian Oil Corporation Ltd (NS: IOC ) at 2.49%, NTPC Ltd (NS: NTPC ) with 2.4% and Hindalco Industries Ltd. (NS: HALC ) that closed up 2.24%.

Banks took a hit today with Kotak Mahindra Bank Ltd. (NS: KTKM ) and ICICI Bank Ltd (NS: ICBK ) losing 1.86% and 1.01% respectively while Nifty Bank closed down 0.63%. Shree Cements Ltd. (NS: SHCM ) lost 2.09% and Sun Pharmaceutical Industries Ltd. (NS: SUN ) ended lower 1.78%.

Asian markets were mixed today with Nikkei 225 closing up 0.65%, KOSPI 50 closing down 0.7% and the Shanghai Composite ending flat.

US stocks are set to open marginally lower, falling back from record highs ahead of key inflation data and as the second-quarter earnings season continues.

As of this report, Dow Jones 30 Futures were up less than 0.1%, while S&P 500 Futures were down less than 0.1%, and Nasdaq 100 Futures dropped 0.2%.

Crude oil has fallen below $68 levels again.

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