Share Market Highlights 6 May 2024: Sensex, Nifty close flat amidst volatility, IT stocks rise

Sensex, Nifty updates on 06 May 2024:: Indian benchmark indices, Sensex and Nifty, closed flat, amidst choppy trading on Monday. The rise in the country’s information technology stocks was dampened by a drop in PSU Banks, as investors awaited U.S. rate cut decisions. The Nifty 50 declined by 0.15%, or 33.15 points, to close at 22,442.70 points, while the S&P BSE Sensex edged up by 0.03%, or 17.39 points, to end at 743,895.54. Nifty Realty, IT, Pharma, and FMCG indices closed in the green, while others finished in the red. The Nifty PSU index, which includes state-owned banks, fell by 3.66% after the Reserve Bank of India proposed higher provisions for under-construction infrastructure projects in its draft guidelines on project finance. Major gainers on the NSE were Britannia (6.60%), Kotak Bank (5.02%), TCS (2.05%), Hindustan Unilever (1.80%), and M&M (1.55%), while major losers included Titan (-7.07%), Adani Enterprises (-4.05%), Coal India (-3.07%), BPCL (-2.89%), and SBI (-2.64%).