India’s equity benchmarks BSE Sensex and NSE Nifty closed on a flat note on Tuesday, tracking mixed global cues. While the Sensex closed 33.49 points, or 0.04%, lower at 76,456.59, the broader Nifty50 gained 5.65 points, or 0.02%, at 23,264.85.
ONGC, Tata Motors,L&T, Adani Ports & SEZ, and Maruti were the top gainers within the Nifty50 pack. Kotak Mahindra Bank, Divi’s Laboratories, ITC, Reliance Industries, and Dr Reddy’s Laboratories were the major laggards.
Sectoral indices showed a mixed a trend. Nifty media, oil & gas, and realty stocks were up over 1 per cent each. Meanwhile, healthcare index, pharma, FMCG, private bank, bank, and metal stocks closed in the red. Nifty Bank slipped 0.15 per cent to 49,705.75.
In addition, railway stocks such as RailTel (8.61%), RVNL (4.21%), IRCTC (4.20%), and IRFC (1.79%) surged.
Shrikant Chouhan, Head Equity Research, Kotak Securities, said the benchmark indices continued non-directional activity for the second day in a row.
“Technically, after a muted opening the index witnessed lacklustre activity. The short-term texture suggesting 23400/77000 would be the key resistance zone for the short-term traders, while 23200/76300 would act as a crucial support zone. We are of the view that, post 23400/77000 breakout the market could rally up to 23500-23525/77300-77400. On the other side, below 23200/76300 the index could retest the level of 23050-23000/76000-75800,” Chouhan added.
A total of 3,969 stocks were traded on the BSE, of which 2,463 advanced, 1,391 declined and 109 remained unchanged. The number of stocks that hit 52-week high was 254, and those that hit 52-week low was 22.
In addition, 378 stocks hit the upper circuit and 130 hit the lower circuit.
Shares of Union Bank of India closed at ₹146.80, down by 0.29 per cent. The board has approved raising of funds not exceeding ₹10,000 crore.
Dredging Corporation closed the day’s trade at upper circuit (at a 52-week high) on securing new order.
The other major stocks that hit 52-week high on the NSE include Essar Shipping (20%), Panache Digilife (20%), Hindustan Construction Company (19.10%), Aditya Birla Money (4.62%), and Tata Steel (0.73%).