Stock Market Updates: Sensex Opens Flat, Nifty Holds Above 18,200; IndusInd Bank Gains 2%

Sensex Today: Benchmark equities started flat with a negative bias on Wednesday as investors await the minutes of the US Fed’s latest policy meeting due later today. The S&P BSE Sensex quoted at 61,240, down 54 points or 0.09 per cent, while the Nifty50 dipped 11 points, or 0.06 per cent, to trade at 18,221.

In the broader markets, the BSE MidCap and SmallCap indices outran benchmarks by rising 0.1 per cent each. Sector-wise, financials, pharma, and media stocks were lending support, while IT, realty, and auto stocks fell in early deals.

Individually, shares of IndusInd Bank rose 2.4 per cent after the private lender posted 19 per cent year-on-year (YoY) increase in net advances, at Rs 2.7 trillion, at the end of December 31, 2022.

Meanwhile, those of Avenue Supermarts (DMart) fell 1.4 per cent even as the company’s standalone revenue from operations for the quarter ended December 31, 2022 (Q3FY23) stood at Rs 11,304.58 crore relative to revenue of Rs 9,065.02 crore at the end of Q3FY22.

Shares of Orient Cement, surged 4 per cent amid media reports that Adani Group is in talks to buy promoter stake in the company.

Global markets

Australia’s S&P/ASX 200 was up 1.30 per cent, while the Nikkei 225 in Japan fell 1.1 per cent. South Korea’s Kospi rose 0.79 per cent, while the Kosdaq rose 0.52 per cent. Investors await the US Job Openings and Labor Turnover Survey, as well as the minutes of the Fed’s latest policy meeting due later today.

Meanwhile, stocks on Wall Street closed lower on Tuesday with Nasdaq Composite settling 0.76 per cent down, S&P500 0.4 per cent lower, and Dow Jones 0.03 per cent weaker.

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