Nifty, Sensex End With Trivial Gains; Mixed Performance In Indices

The Indian stock market continued to trade in a dull manner in the Tuesday trading session. Experts believe that the rich valuations repel the investors to pour money. Pharma and FMCG remained under pressure while benchmark indices, Nifty and Sensex gained marginally.

The National Stock Exchange (NSE) Nifty 50 index ended 0.09 per cent higher at 24,857 whereas the S&P Bombay Stock Exchange (BSE) Sensex settled 100 points or 0.12 per cent higher at 81,455 levels on the closing bell. 

Nifty Moves

In the Nifty 50 index, 22 stocks advanced in the positive territory and 27 stocks ended in the red territory, while Axis Bank remained unchanged.

Among the winners, Tata Motors closed at record-high with 3.37 per cent gain followed by more than 3 per cent gain in NTPC and BPCL. Power Grid also gained 2.18 per cent.

Among the losers, LTI Mindtree lost nearly 2 per cent followed by more than 1 per cent loss in Cipla, SBI Life, Grasim Industries, Sun Pharma, ITC and Shriram Finance.

Analyst Note  

“Market has been trading with cautious optimism as valuations are quite rich, and any slight hiccup on the external front could trigger correction although domestic fundamentals remain buoyant,” said Prashanth Tapse, Senior Research Analyst, Mehta Equities.
 

Sectoral Movement

In terms of sectoral performance, Nifty Bank rose 0.18 and Financial Services ended with slight gains, while PSU Banks ended in red. 
 

Auto, Metal, Realty and Media ended in the green territory, whereas IT, Pharma and FMCG ended in the red territory.

The more domestically focussed indices, Mid-cap and Small cap ended higher with 0.45 per cent and 0.86 per cent gain respectively.