Sensex, Nifty 50 close flat; all eyes on MSCI review

Business Business: Stock Market Today- Domestic Benchmarks Equity indices Sensex and Nifty 50 ended flat in Monday’s session amid mixed global cues. On Monday afternoon, the Sensex and Nifty 50 regained all their lost ground and continued to rise on the back of encouraging trends in international stocks and fresh inflows of foreign funds. The benchmark indices had fallen in early trade as investors were wary of potential disruptions triggered by a report by US short-seller Hindenburg Research about undisclosed involvement of the SEBI chairman and his husband in shadowy offshore funds based in Bermuda and Mauritius. The 30-share BSE Sensex closed 56.99 points or 0.07% lower at 79,648.92 while the Nifty 50 closed 20.50 points or 0.08% lower at 24,347.00. According to Vinod Nair, Head of Research, Geojit Financial Services, the Adani-Hindenburg-SEBI drama overshadowed the early momentum of the Indian market, resulting in the market performance being largely flat. But the market attempted to ignore these signals by adopting cues from international markets. Nair said, “In addition, the domestic market is expecting a reduction in CPI inflation, which is going to get a further boost from a good monsoon. Still, given the strength in oil prices and volatility in food inflation, upside risks remain.”