Stock market LIVE: Sensex lackluster; TCS up 2%; Hero Moto, UltraTech down | Market news
The BSE Sensex was trading in a narrow range of 78,896-79,114 and was 50 points higher at 79,000 points. The NSE Nifty 50 was hovering around 24,150 points.
Tata Motors was the biggest gainer among the Sensex 30 stocks, gaining over 1 percent. SBI, Sun Pharma, Tech Mahindra and Larsen & Toubro were the other notable risers. On the other hand, Adani Ports, UltraTech Cement, ICICI Bank and Axis Bank were the notable losers.
In the broader market, the BSE MidCap index lost over 1 percent, while the SmallCap lost 0.7 percent.
Overnight, the US market closed with strong gains, with the Dow Jones up 1 percent and the NASDAQ up 2.4 percent, after producer price inflation rose just 0.1 percent on a monthly basis in July (against expectations of 0.2 percent). This led to a decline in bond yields and fueled expectations of a rate cut in September.
In Asia, Nikkei, Kospi and Taiwan each rose by more than 1 percent, while Hang Seng rose by 0.2 percent.
The Indian stock market will be closed for trading tomorrow, August 15, due to the Independence Day holiday.
