FINAL TRADE: Indices end flat; Sensex at 65,220.03, Nifty settles at 19,396.45

Stock markets today:  The domestic equity market on Tuesday, August 22, ended flat amid concerns about China's economy and the US Fed's interest rate hike. The market participants will keep an eye on the US manufacturing Purchasing Manager's Index, or PMI, which will be released on Wednesday.

Back home, both indices closed 0.01 per cent higher. The S&P BSE Sensex was flat by 3.94 points at 65,220.03, and the NSE Nifty was flat by 2.85 points at 19,396.45.

In the broader market, the Nifty Mid Cap 100 and Small Cap 100 indices ended on a strong note.

On the sectoral front, Nifty Bank ended flat at 43,993.25.

TECHNICAL VIEW 

"The Nifty is stuck in between a range, and until the Nifty trades below the 19,450–19,500 zone, we can expect the selling pressure to persist. We shall continue to maintain our negative outlook on the index. On the downside, we expect the Nifty to target levels of 19100. Crucial support is placed at 19,250–19,200, while the immediate hurdle is placed at 19,480–19,500," said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

"Bank Nifty has tried to sustain above 44,000; however, as the day progressed, it witnessed selling pressure and closed marginally in the red. The pullback towards key hourly moving averages placed in the range 44,000 – 44,100 is providing stiff resistance. Unless the Bank Nifty manages to sustain itself above the resistance zone, we can expect the selling pressure to continue. On the downside, the Nifty Bank Nifty can slip towards 43500 from a short-term perspective," said Gedia.

NIFTY STOCKS 

Adani Enterprises, HDFC Life, ITC, NTPC, and Hero MotoCorp were the major gainers. On the flip side, Jio Financial, BPCL, Cipla, Eicher Motors, and Bajaj Finserv were the top laggards.

BUZZING STOCKS 

Tata Communications shares closed up over 4 per cent after the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) ordered the Centre not to take coercive steps against it in relation to a licence fee demand of Rs 991.5 crore.

Lemon Tree Hotel shares closed up over 2 per cent after the company signed a licence agreement for two properties in Bhubaneswar and Kasauli. 

Dish TV stock closed up over 3 per cent after the Telecom Regulatory Authority of India's proposal to zero the licence fee charged from DTH licences in the next three years. 

United Spirits stock settled over 3 per cent up at Rs 1,034.05 apiece.

ITC was up over 1 per cent at close. 

On the other hand, Glenmark Pharma falls despite a settlement with DoJ, down over 1 per cent. 

Jio Financial Services stock touched its lower circuit two days in a row a day after its listing. 

Aurobindo Pharma was down over 1 per cent as the company recalled different products in the US market due to manufacturing lapses. 

GLOBAL MARKETS 

Global stock markets and Wall Street futures rose Tuesday as traders waited for signs of interest rate plans from this week's Federal Reserve conference. London, Shanghai, Paris, and Tokyo rose.

Wall Street's benchmark S&P 500 index rose Monday for its first gain in five days as tech stocks rallied.

(with agency inputs)

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