FINAL TRADE: Nifty ends at 24,144, Sensex closes above 79,100 levels; broader markets underperform

FINAL TRADE, August 14, 2024: Indian equity benchmarks Sensex and Nifty ended on a flattish note even as global cues remained supportive. Nifty at the close ended at 24,143.75 up 0.02 per cent or 4.75 points, while Sensex ended at 79,105.88, up 0.19 per cent ot 149.85 points.

Meanwhile, Bank Nifty, a high beta index ended lower while the broader indices saw a shaper drag amid valuation concerns.

Sectorally, while most of the indices faced selling pressure, with the metal and oil & gas sectors leading the losses. Nonetheless, the IT pack saw decent gains of over 1 per cent mirroring gains in the tech-heavy Nasdaq index in the overnight trade following a softer than expected inflation print in the US. The softening inflation bolsters hopes of a Fed rate cut in September, boosting overall market sentiment.

From the Nifty pack, top gainers included stocks like TCS, HCL Technologies, Infosys, Tech Mahindra and BPCL while the losers were Divi's Laboratores, Hero MotoCorp, Coal India, UltraTech Cement and ONGC.

Vinod Nair, Head of Research, Geojit Financial Services on the market's performance today said, "The domestic market traded within a narrow range; even as global markets saw a positive turnaround. Investors adopted a cautious stance due to weak domestic sentiment and the risks of earnings downgrades. Meanwhile, a decline in WPI inflation, driven by lower food prices, signals that the RBI is progressing towards its price stability target. The IT index edged up, reflecting optimism for improved US CPI data expected later today, which could increase the scope of a loose monetary policy from the Fed."

HAL shares ended in the red despite its Q1 profit rising 76 per cent on a YoY basis. The stock closed at Rs 4,661.35 levels on the BSE.

Hero MotoCorp shares ended with a cut of over 3 per cent as the company's earnings failed to meet analysts expectations.

Meanwhile, European shares continued to trade with gains ahead of the key US and Euro zone data due later today.