FINAL TRADE: Sensex closes at 65,402; Nifty settles at 19,434.55; PVR Inox shares zoom nearly 5%

Stock market today: The domestic equity market edged higher in Monday's trading session after snapping two sessions' weakness after India's wholesale price index (WPI) inflation for July declined, but the fall was lower than expected. Buying interest was seen in FMCG and IT stocks.

The market participants will now be keeping an eye on the USA's retail sales data for July, Japan's gross domestic product, or GDP, and industrial product data for the second quarter, and China's industrial production and retail sales data for July. Indian markets will be closed on Tuesday, August 15, on account of Independence Day.

At close, the S&P BSE was up 79.27 points, or 0.12 per cent at 65,401.92, and the NSE Nifty 50 was up 6.25 points, or 0.03 per cent at 19,434.55.

On the other hand, the Nifty Mid Cap 100 and Small Cap 100 closed lower by 0.17 per cent and 0.73 per cent, respectively.

Nifty Bank ended lower by 0.24 per cent at 44,090.95, with six bank stocks ending in the red.

"Bank Nifty has formed a doji pattern on the daily charts. This pattern after a sharp fall indicates that Bank Nifty can consolidate from a short-term perspective. After falling for three consecutive weeks, it has reached the 20-week moving average (43,880), which can restrict a sharp decline from hereon. The daily and hourly momentum indicators are providing divergent signals. Thus, under such a situation a consolidation is highly likely. However, the overall trend is still negative, and we expect levels of 43,500 from a short-term perspective," said Jatin Gedia – Technical Research Analyst at Sharekhan by BNP Paribas.

FMCG and IT counters saw buying, while the rest of the sectoral indices declined.

TECHNICAL VIEW 

"The daily and hourly momentum indicators are providing divergent signals. Thus, in such a situation, consolidation is highly likely. Overall, there are no signs of a trend reversal, and hence the short-term outlook is negative. On the downside, we expect the Nifty to target levels of 19,100. The crucial support zone on the downside is placed at 19,300 – 19,250 and on the upside, resistance is placed at 19,450 – 19,500," said Gedia. 

NIFTY STOCKS 

Divi's Laboratories, Infosys, LTIMindtree, Hindustan Unilever, and Reliance were the major gainers. On the flip side, Adani Enterprises, JSW Steel, Hindalco, SBI, and Adani Ports were the top laggards.

BUZZING STOCKS 

FSN E-Commerce Ventures Ltd, the parent company of Nykaa, closed over 8 per cent down after the company posted its June quarter numbers.

Finolex Cables shares settled 6.74 per cent lower on the BSE even as its first-quarter profit came in line with analysts' estimates.

Adani Ports and Adani Enterprises closed over 2 to 3.64 per cent after Deloitte resigned as auditor of Adani Ports after concerns about certain transactions in the Hindenburg Report.

Conversely, Khadim India shares climbed over 10 per cent after the company posted Q1 results.

PVR Inox shares gained nearly 5 per cent as the weekend box office crossed Rs 100 crore on the success of Gadar 2, OMG 2, and Jailer.

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