This Article is From Jan 14, 2020

Sensex, Nifty Turn Flat After Hitting Record Highs In Volatile Trade: 10 Things To Know

Gains in auto, IT and energy shares supported the markets however losses in banking and financial services stocks capped the upside.

Sensex, Nifty Turn Flat After Hitting Record Highs In Volatile Trade: 10 Things To Know

Vedanta, Tata Steel, HCL Tech, GAIL and JSW Steel were the top Nifty gainers

Domestic stock markets turned flat after hitting new all-time highs amid volatile trade on Tuesday, a day after consumer inflation data dashed hopes of further monetary easing by the central bank. The S&P BSE Sensex index rose as much as 43.67 points to hit an all-time high of 41,903.36, and the broader NSE Nifty benchmark rose 20.2 points to a record 12,349.75, as the markets swung in a narrow range between gains and losses. Gains in auto, IT and consumer goods shares were offset by losses in banking and financial services stocks.

Here are 10 things to know about the stock markets (Sensex and Nifty) today:

  1. At 11:20 am, the Sensex traded 8.58 points lower at 41,851.11 while the Nifty was up 5.00 points at 12,334.55. 

  2. Top percentage gainers on the 50-scrip benchmark index at the time were Vedanta, Britannia, Zee Entertainment, Tata Steel and TCS, up between 1.44 per cent and 2.99 per cent. Thirty six stocks on the Nifty moved higher at the time.

  3. On the other hand, Yes Bank, ONGC, Larsen & Toubro, Kotak Mahindra Bank and UPL - trading between 0.93 per cent and 6.41 per cent lower - were the top losers.

  4. Reliance Industries, ICICI Bank and Kotak Mahindra were the top drags on the Sensex. 

  5. Official data released after market hours on Monday showed consumer inflation - gauged by the Consumer Price Index (CPI) - stood at 7.35 per cent in December, the worst level recorded since August 2014. That dashed hopes of further monetary easing by the central bank. 

  6. The Reserve Bank of India (RBI)'s next bi-monthly policy review is due in February. The RBI, which tracks consumer consumer inflation data primarily for formulating its monetary policy, reduced the repo rate by 135 basis points in 2019 but kept it on hold in a surprise move in December citing concerns about inflation.

  7. Equities in other Asian markets rose as signs of goodwill between the US and China supported optimism for global growth, with the world's two biggest economies preparing to formalise a trade-war truce.

  8. MSCI's world shares gauge hit a fresh all-time high, while MSCI's broadest index of Asia-Pacific shares outside Japan drifted higher. Japan's Nikkei added 0.8 per cent and hit its highest level recorded in a month.

  9. The US Treasury Department on Monday said China should no longer be designated a currency manipulator - a label it applied as the yuan slid in August. China, meanwhile, has allowed the tightly managed currency to climb to its highest point since July.

  10. On Monday, the Sensex and Nifty registered new record closing highs. The Sensex ended 259.97 points - or 0.62 per cent - higher at 41,859.69 whereas the Nifty settled at 12,329.55, up 72.75 points - or 0.59 per cent - from its previous close.

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