Indian equity benchmarks closed Tuesday’s trade on a subdued note. The Nifty 50 ended the day flat at 25,939, while the BSE Sensex fell 20 points or 0.02% to end at 84,675.
However, the Nifty Bank settled 239 points or 0.41% higher at 59,171, outperforming benchmarks. The mid- and small-cap stocks also closed the trade in the red. The BSE Midcap finished 23 points or 0.04% lower at 46,486.28. However, the BSE Smallcap finished 100 points or 0.20% lower at 50,921.
“The markets remained range-bound, with the Nifty trading within a narrow 100-point band. It snapped its three-day losing streak and formed a small-bodied bullish candle resembling a Doji, indicating indecisiveness among market participants. The index also managed to close above its 50-DMA, placed around 25,930, which continues to act as immediate support. However, the broader structure remains positive, and once this consolidation phase ends, another leg of upside cannot be ruled out,” said Nilesh Jain, Head of Technical and Derivatives Research Analyst at Centrum Broking.
“The domestic market remained volatile and ended the monthly expiry day flat, despite supportive global cues and selective value buying. A stronger rupee provided some respite, yet overall sentiment stayed cautious amid persistent FII outflows,” said Vinod Nair, Head of Research at Geojit Investments.
“Sector-wise, while auto stocks gained on robust IIP data, metal stocks gained due to higher metal prices, enabling better realisations. Similarly, PSU banks advanced on improved asset quality. Looking ahead, the market is anticipated to stay sideways, awaiting more pronounced outcomes from US-India trade talks and the Q3 results calendar,” he added.
Big highlights from today’s market action-
Indices in intraday trade
The indices closed the trade on a lower note. During the session, out of 3,244 trading stocks, 1,410 advanced, while 1,723 declined, and 111 remained unchanged. Today, 49 stocks hit a fresh 52-week high. Meanwhile, 143 stocks touched a new 52-week low.
Top gainers
Bajaj Auto was the top gainer in the Nifty 50 in Tuesday’s session, closing 2.3% higher. It was followed by Hindalco Industries, Shriram Finance, Tata Steel, and Mahindra & Mahindra.
Top losers
Eternal’s (Zomato) shares were the biggest losers in today’s trade, falling 2.2%. It was followed by Eicher Motors, Tata Consumer Products, Max Healthcare Institute, and InterGlobe Aviation were the only losers.