Equity benchmarks closed flat on Tuesday as selling in IT and FMCG counters offset gains in auto and financial services stocks.
The Sensex settled at 82,102.10, down 57.87 points or 0.07 per cent, after opening almost unchanged at 82,147.37 compared with the previous close of 82,159.97. The Nifty slipped 32.85 points or 0.13 per cent to close at 25,169.50.
Market analysts said the indices traded in a narrow range amid volatility linked to the Nifty’s weekly expiry. “The Nifty formed a high wave candlestick pattern on the daily chart, reflecting consolidation and trader indecision. As long as the index holds above the 25,000 level, a pullback towards the 25,300–25,400 zone remains possible,” an analyst noted.
Among laggards were Tech Mahindra, Trent, Ultratech Cement, Hindustan Unilever, Asian Paints, ITC, Bharti Airtel, HCL Tech, Sun Pharma and HDFC Bank. On the gaining side, Axis Bank, Bajaj Finance, Maruti Suzuki, SBI, Kotak Bank, Tata Steel, NTPC, Tata Motors, Mahindra & Mahindra, and PowerGrid advanced.
Sectoral performance was mixed. Nifty Bank added 225 points or 0.41 per cent, Nifty Financial Services gained 31 points or 0.12 per cent, and Nifty Auto climbed 167 points or 0.62 per cent. On the downside, Nifty FMCG dropped 725 points or 1.29 per cent, while Nifty IT shed 251 points or 0.71 per cent.
The broader indices also remained weak. Nifty Smallcap 100 declined 97 points or 0.53 per cent, Nifty Midcap 100 lost 202 points or 0.35 per cent, and Nifty 100 slipped 48 points or 0.19 per cent.
Analysts said the market is in a consolidation phase, with festive demand and GST-related optimism supporting autos, metals and financials, while profit booking weighed on FMCG and realty stocks.
–IANS