Share Market Highlights 19 August 2024: Market ends flat as banking shares drag, IT and metals shine

Sensex, Nifty updates on 19 August 2024: Markets closed nearly flat on Monday, with the ​BSE Sensex​ ending at 80,424.68, down 12.16 points or 0.02 per cent, while the ​Nifty 50​ finished at 24,572.65, up 31.50 points or 0.13 per cent. The day began on a ​positive note, with the Sensex opening at 80,680.25 and Nifty at 24,636.35​, but trading remained range-bound throughout the session. Positive global cues include receding US recession fears, as Goldman Sachs lowered the probability of a US recession to 20%, supported by strong retail sales and jobless claims data. Last week, the Nifty and Sensex ended a two-week losing streak, driven by strong US economic data, easing inflation in India, and stability in the Japanese yen. FIIs remained net sellers, offloading ₹8,616 crore, while DIIs continued buying, acquiring ₹10,560 crore. Analysts are cautious about short-term market performance, citing weak Q1FY25 earnings with negative PAT growth and muted topline momentum while maintaining a constructive long-term outlook.