Stock markets close flat on profit-taking across the board

Sensex down 0.02%, while Nifty gains 0.13%

MUMBAI: Despite a strong start, stock markets ended flat on Monday, August 19, due to widespread profit-taking.

The 30-share BSE Sensex fell by 12.16 points, or 0.02%, closing at 80,424.68. In contrast, the Nifty 50 edged up by 31.50 points, or 0.13%, to finish at 24,572.65.

The 30-share BSE Sensex fell by 12.16 points, or 0.02 per cent, closing at 80,424.68. In contrast, the Nifty 50 edged up by 31.50 points, or 0.13 per cent, to finish at 24,572.65.

On a broader scale, the Nifty Midcap 100 gained 0.29 per cent, and the Nifty SmallCap 100 rose 1.74 per cent, outperforming the benchmark indices.

Leading the gains were Hindalco, BPCL, Shriram Finance, Tata Steel, LTIMindtree, Coal India, ONGC, and Dr. Reddy’s Labs, with stock increases ranging from 1.8 per cent to 4 per cent.

Conversely, stocks such as M&M, IndusInd Bank, Bajaj Auto, Axis Bank, SBI Life, and Tata Motors saw declines of up to 2.5 per cent.

Sector-wise performance

Sector-wise, the Nifty Auto index dropped by 0.9 per cent, while the Nifty Private Bank index fell by 0.5 per cent. On the upside, the Nifty Metal and PSU Bank indices saw gains of 1.87 per cent and 1.2 per cent, respectively.

Globally, markets exhibited volatility as investors focused on the upcoming Jackson Hole Economic Symposium, where Federal Reserve Chair Jerome Powell is expected to speak later this week. This venue has historically been the site of significant policy announcements.

Asian markets

In Asia, Japan’s benchmark index decreased by 1.8 per cent to 37,388.62. According to an AP report, core machinery orders—a key indicator of future capital investment—dropped 1.7 per cent year-over-year in June.

Meanwhile, Thailand’s stock exchange index rose by 1.3 per cent to 1,500.15, boosted by a 2.3 per cent expansion in the country’s GDP for the second quarter, largely driven by tourism.

Other Asian markets saw mixed results: the Seoul Kospi fell 0.9 per cent to 2,674.36, while Australia’s S&P/ASX 200 increased by 0.1 per cent to 7,980.40.

The Shanghai Composite rose 0.5 per cent to 2,893.67, and Hong Kong’s Hang Seng gained 0.8 per cent to 17,569.57.