Market Dull Mood Continues; Nifty, Sensex End Flat

The Indian stock market displayed a dull mood in the Tuesday trading session as the global macro factor lingered ahead including the US rate concern weighed and domestic inflation data. 

The National Stock Exchange (NSE) Nifty 50 index ended almost flat with 0.02 per cent gain at 23,264 whereas the S&P Bombay Stock Exchange (BSE) Sensex settled with a negligible dip at 76,456 levels on the closing bell. 

Nifty Moves

In the Nifty50 index, 28 stocks advanced with gains and 21 stocks ended in the red territory, while LTI Mindtree remained unchanged. 

ONGC topped the index with 55.6 per cent gain, followed by more than 1 per cent gain in Larsen & Toubro, Adani Ports, Tata Motors, Maruti,  Hero Motocorp and Mahindra & Mahindra. 

Conversely, the laggards segment included Kotak Bank, Divis Lab, Asian Paints, Dr Reddy and Reliance Industries. 

Analyst Note

“Benchmark Sensex erased all its mid-session gains as late profit-taking in select banking and FMCG stocks weighed on sentiment despite strong buying in telecom, oil & gas and realty stocks. Weakness in Asian and European indices too kept the mood cautious. The market has already rallied sharply in recent sessions and indices are at all-time highs, and hence investors would be watchful before increasing their exposure,” said Prashanth Tapse, Senior VP (Research), Mehta Equities. 

Sectoral Movement

In terms of sectoral performance, mixed trades were witnessed across the sectors. Auto rallied 0.83 per cent, while Realty gained more than 1 per cent. 

Nifty Bank and Finance ended in the red territory, while Pharma and FMCG declined 0.34 per cent and 0.43 per cent. IT on the other hand remained almost unchanged. 

The more domestically focussed indices, mid-cap surged 0.81 per cent, whereas Small cap climbed 0.55 per cent.