Stock market today: Towards the end, benchmark indexes seesawed in a tight range amid choppy trade on Wednesday, April 3, after opening lower in line with global market trends on rising concerns that the Federal Reserve may delay lowering interest rates and a decline in consumer stocks.

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The blue-chip NSE Nifty 50 ended flat, 0.08 per cent, or 18.65 points, lower at 22,434.65, while the BSE Sensex shed 0.04 per cent, or 27.09 points, to close at 73,876.82.

Nestle India, Bajaj Auto, Dr Reddy's, Kotak Mahindra Bank, and Britannia were the top losers on the Nifty50, while notable gainers included Shriram Finance, NTPC, Divi's, Tata Consultancy Services (TCS), and Tech Mahindra.

"There is a subtle positivity in the Indian market, bucking the weak global trend, aided by positive manufacturing PMI data and optimistic expectation of upcoming Q4 results," Vinod Nair, Head of Research, Geojit Financial Services, said. 

Nifty Bank edged higher on Wednesday's trade. The index settled at 47,624.25, up 0.17 per cent, or 78.8 points.

Meanwhile, barring the Nifty 50 and Nifty 100, all broad market indices settled in green. The Nifty Midcap100 and Nifty Smallcap100 outperformed the headline gauges, which settled 0.52 per cent and 1.16 per cent higher, respectively.

"The buoyancy of the broad market indicates strength to continue in the short term. Meanwhile, strong US economic data has cast doubts on the Fed rate cut in June anticipated by the market," Nair said.

Global Market

European shares traded in a tight range on Wednesday as investors stayed on the sidelines ahead of a crucial inflation report that could sway expectations on the timing of the European Central Bank's first rate cut.

The continent-wide STOXX 600 was down 0.1 per cent by 0829 GMT. Rate-sensitive real estate stocks lost 0.9 per cent, while banks gained 0.6 per cent. Following a cooler-than-expected inflation report on Tuesday from Germany, the region's largest economy, all eyes will be on the Eurozone inflation March report, due at 0900 GMT.

"The market is focused on the US Fed chair’s speech later today for more hints. A statement in line with the last policy is predicted to bring back a respite to the global market," the expert added.

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