India’s benchmark equity indices ended marginally lower on Tuesday, managing to reverse steeper losses. Information technology and oil and gas stocks rallied while consumer durables and autos faced selling pressure.
The Nifty 50 ended 14.2 points or 0.06% lower at 22,945.3, and the Sensex closed 29.47 points or 0.04% lower at 75,967.39.
Intraday, the Nifty fell 0.69% and then found crucial support at 22,800, while the Sensex lost 0.61% to stay just above 75,500.
The benchmark index had a muted start, yet faced selling pressure as the significant high established in the previous sessions served as overhead resistance, said Ameya Ranadive, senior technical analyst at StoxBox.
“As seen in the previous three to four instances, the price broke below the level of 22800 but was unable to maintain a close beneath it; similarly, today, the price attempted to dip but ultimately saw a recovery from that level,” he said.
Shares of HDFC Bank Ltd., NTPC Ltd. and Infosys Ltd. added to the Nifty 50.
While those of ICICI Bank Ltd., Mahindra & Mahindra Ltd. and Tata Consultancy Services Ltd. weighed the index.
On NSE, six out of 12 sectors advanced, and the other six declined. The NSE Nifty FMCG and Nifty Auto fell the most, and the Nifty IT and Nifty Oil & Gas rose the most.
Broader markets ended Tuesday’s session on a worse note. The BSE Midcap ended 0.19% lower and the BSE Smallcap closed 1.71% lower.
On BSE, 14 out of 21 sectors declined, and seven advanced. The BSE Industrials declined the most, and the BSE Utilities rose the most.
Market breadth was skewed in the favour of sellers. In total, 2,918 stocks declined, 1,032 stocks advanced, and 114 stocks remained unchanged on BSE.
. Read more on Markets by NDTV Profit.The Nifty 50 ended 14.2 points or 0.06% lower at 22,945.3, and the Sensex closed 29.47 points or 0.04% lower at 75,967.39. Read MoreMarkets, Business, Notifications
NDTV Profit
