The Sensex and Nifty50 indices closed Tuesday's trading session on a flat note after moving within a limited range. The Sensex ended 8 points lower at 73,599, while the Nifty50 slipped 3 points to settle at 22,750. The session saw the Nifty50 index touch an intraday high of 22,830 and a low of 22,636 as October futures and option contracts expired.
- The Sensex traded within a 584-point range during the session.
- Tata Consumer Products and Bharti Airtel were among the top gainers on the Nifty50 index.
- Banking and IT sectors faced losses, impacting overall market performance.
- Broader markets outperformed with Nifty Midcap 100 and Smallcap 100 indices rising 1% and 2.66%, respectively.
- Major sector indices showed mixed results, with media, pharma, auto, FMCG, and metal sectors gaining.
What caused the Sensex and Nifty50 to end flat?
The flat closing of the Sensex and Nifty50 was due to a balance between gains and losses across various sectors. Stocks like Bharti Airtel, Eternal, Maruti Suzuki, Power Grid, and Trent recorded gains, while heavyweights such as HDFC Bank, ICICI Bank, State Bank of India, Axis Bank, Tata Consultancy Services, and Bajaj Finance declined. This mix of positive and negative movements kept the indices rangebound.
Which sectors performed well during the session?
Out of 15 major sector gauges compiled by the National Stock Exchange (NSE), 10 ended higher. The Nifty Media index led with a 3.66% gain. Other sectors that rose between 0.6% and 1.94% included Pharma, Auto, FMCG, Metal, PSU Bank, Realty, Healthcare, and Consumer Durables. These gains were supported by strong performances in individual stocks within these sectors.
How did the banking and IT sectors fare?
The banking and IT sectors experienced declines during the session. The Nifty Bank index slipped 0.52%, while Financial Services, IT, and Private Bank indices also closed lower. Key banking stocks such as HDFC Bank, ICICI Bank, State Bank of India, and Axis Bank contributed to the sectoral losses, which offset gains in other areas.
What was the performance of broader market indices?
The broader markets outperformed the main indices. The Nifty Midcap 100 index advanced by 1%, and the Nifty Smallcap 100 index surged 2.66%. This indicates increased investor interest in mid-sized and smaller companies during the session.
Which individual stocks stood out during the session?
Several individual stocks showed notable movements. VA Tech Wabag surged 9.07% after securing a major order from Reliance Industries for a desalination plant project in Gujarat. Transformers and Rectifiers (India) rose 7.4% following plans to invest ₹1,250 crore in new manufacturing plants. KFin Technologies shares jumped 6.6% after reporting a 7.5% annual rise in net profit for the September quarter.
Tata Consumer Products was the top gainer on the Nifty50, rising 6.78% to close at ₹1,000. The company reported a 16% increase in net profit to ₹470 crore and a 14% rise in revenue from operations. Bharti Airtel, Bajaj Auto, BSE, Trent, Maruti Suzuki, Power Grid, Eternal, BEL, Max Healthcare, Titan, and Jio Financial Services also recorded gains between 1% and 3.2%.
On the downside, Asian Paints, Coal India, Grasim Industries, State Bank of India, Tata Consultancy Services, Axis Bank, ICICI Bank, HDFC Bank, HDFC Life, and Tata Motors PV were among the top losers on the Nifty50 index.
What was the overall market breadth?
The market breadth was positive, with 2,455 shares closing higher and 1,103 shares closing lower on the NSE. This suggests that more stocks advanced than declined during the session, despite the flat closing of the major indices.
