The domestic key equity indices closed the session on a flat note. The IT, consumer durables, and oil & gas stocks helped the indices.
On Tuesday, the Nifty 50 settled 7.45 points or 0.03% higher at 24,336. The BSE Sensex advanced 70 points or 0.09% to finish at 80,288.38.
“The national market exhibited largely range-bound oscillation, as caution prevailed amid geopolitical concerns over border tensions. The sustained inflows from FIIs provided support to market sentiment and restricted further pessimism. Meanwhile, mixed Q4 results have raised the risk of downward revisions to FY26 projections,” said Vinod Nair, Head of Research at Geojit Investments.
“In combination with apprehensions surrounding potential retaliatory actions, these developments may lead to some consolidation in the near term,” Nair added.
5 big highlights from today’s market action-
Indices advanced in intraday trade
The indices surged higher in early trading hours but soon started to trade on muted lines. The Sensex surged over 440 points during the day, hitting a high of 80,661.31. Nifty, too, advanced 130 points to trade above the important 24,400 mark and hit an intraday high of 24,457.10, but couldn’t hold the level.
Top gainers
The Tata Group’s retail and fashion firm Trent was the top gainer in the Nifty 50 in Tuesday’s flat trade, closing 5.77% higher. It was followed by the defence-PSU BEL, Tech Mahindra, Reliance Industries, and Eternal (Zomato).
Top losers
Meanwhile, the shares of Sun Pharma held the seat of top laggard in the Nifty 50. It was followed by UltraTech Cement, Coal India, Oil & Natural Gas Corp., and Dr. Reddy’s Laboratories.
Sectoral Index
After analysing the list of IT stocks, it was found that the IT outperformed the highest among the sectoral indices, surging 1.23% to a 35,920.40 level in Tuesday’s trade. However, the pharma and metal stocks dragged the indices, falling 1.06% and 0.95% respectively.
The Nifty Bank underperformed key indices, declining 42 points or 0.07% to close at 55,391. The BSE Midcap rose 97 points or 0.23% to close at 43,194.16.
In the broader markets, small- and mid-cap stocks closed on a higher note, breaking ranks with the overall market sentiments. The volatility index India VIX surged by 2.53% to the 17.37 level.
Market breadth remained neutral
The overall market breadth remained neutral as out of 2,933 stocks traded, 1,365 advanced and 1,478 declined. Also, 90 stocks remained unchanged. Today, 33 stocks hit a fresh 52-week high compared with 17 stocks hitting a 52-week low. Adding to that, 78 stocks touched the upper circuit and 46 were at the lower circuit.
“On the daily charts, we can observe that the Nifty has been rallying for seven consecutive sessions. It is now approaching the 61.82% Fibonacci retracement level (24,550) of the September to April decline. i.e. 26,277–21,743. The upmove is likely to be slow from here on, and sector rotation is likely over the next few weeks,” said Jatin Gedia, Technical Research Analyst at Mirae Asset Sharekhan.