The Indian Stock Market traded with a mixed set of gains and losses in the Tuesday trading session. The benchmark index Nifty ended in green, while Sensex traded flat. Sectoral indices also displayed the same trading pattern as the election advanced to its last phases.
The National Stock Exchange (NSE) Nifty 50 index concluded 0.12 per cent higher at 22,529, whereas the S&P Bombay Stock Exchange (BSE) Sensex settled 52 points or 0.07 per cent lower at 73,953 levels on the closing bell.
Nifty Moves
In the Nifty50 index, 26 stocks ended in the green territory while 24 stocks concluded with loss in the session.
Hindalco topped among peers with 5.04 per cent gain followed by 4.46 per cent gain in Coal India. Tata Steel, JSW Steel and Adani Ports gained more than 3 per cent, while Power Grid, Cipla, BPCL and Divis Lab traded more than 2 per cent higehr.
Conversely, in the laggard segment, Nestle India slumped the highest with a 1.74 per cent loss followed by Hero Motocorp and Maruti dip of more than 1 per cent.
Analyst Note
“Weak Asian and European cues kept the mood sluggish in the domestic market through the trading session. Investors are trading with caution in the run up to the poll outcome and are keeping their equity exposure limited,” said Prashanth Tapse, Senior VP (Research), Mehta Equities.
Sectoral Movement
In terms of sectoral performance, Metal displayed robust strength as the sectoral index rallied 3.88 per cent followed by 1.51 per cent gain in PSU Banks. Auto and Pharma also traded with decent gains, however FMCG, IT, Banks and Finance closed in red territory.
The more domestically focussed indices, mid-cap jumped 0.38 per cent, while small cal index dipped 0.41 per cent.
Stocks Specific
Bharat Electronics gained nearly 6 per cent to Rs 274 after the PSU stock net profit in the fourth quarter increased to Rs 17.97 billion from 13.82 billion in the same period a year ago.
Kalpataru Project surged 3.41 per cent to Rs 1,240 after the firm bagged mega orders worth Rs 7,550 crore from a Saudi Arabian company, Aramco.