Stock Market: Sensex, Nifty End Flat Amid Volatility. Metal, Power Stocks Lead, Adani Shares Rally

Stock update: On the 30-share Sensex platform, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, SBI were among the lead gainers

In the broader markets, the BSE Midcap and the Smallcap indices ended with marginal gains.

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The two key equity benchmarks, Sensex and Nifty, on Tuesday ended flat during the fag-end of the session mostly due to lack of major triggers amid volatility.

The S&P BSE Sensex closed 18 points higher at 61,982. On the other hand, the Nifty50, settled at 18,348, up 34 points. The indices had hit intra-day highs of 62,245 and 18,420, respectively.

On the 30-share Sensex platform, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, SBI were among the lead gainers. On the flipside, TechM, HCL, Kotak Bank, Titan, L&T, Sun Pharma ended losers.

Among specific stocks, Adani Enterprises led from the front with a near 13-per cent rally, followed by Divis Labs.

#ABPLiveStockMarketWatch | Indian equity benchmarks on Tuesday ended flat

At 03:30 PM, #Sensex gains 18 points to 61,982 & #Nifty up 34 points to close at 18,348

Here's a look at the stocks in focus:#ClosingBell #ABPLive #MarketWatch pic.twitter.com/POFQI0QPIU

— ABP LIVE (@abplive) May 23, 2023

In the broader markets, the BSE Midcap and the Smallcap indices ended with marginal gains.

On the sectoral front, metal index up 2.6 per cent and power index up 1 per cent, while buying was also seen in the oil & gas, auto, FMCG and healthcare. Some selling was seen in the capital goods, information technology and realty names. The Nifty IT index was the only loser, down 0.5 per cent.

In the previous session on Monday, the S&P BSE Sensex closed 234 points higher at 61,964 level. On the other hand, the NSE Nifty settled at 18,314, up 111 points.

In Asian markets, Tokyo, Shanghai, and Hong Kong settled lower, while Seoul ended in the green. Markets in Europe were trading mostly lower. The US market ended mostly with gains on Monday.

Market participants are waiting for the release of the Federal Open Market Committee (FOMC) meeting minutes, scheduled for May 24.

Foreign Institutional Investors (FIIs) turned buyers on Monday as they bought equities worth Rs 922.89 crore after a day's breather, according to exchange data.

Global oil benchmark Brent crude dipped 0.03 per cent to $75.97 a barrel.

Meanwhile, the rupee traded in a narrow range and settled for the day 2 paise higher at 82.82 (provisional) against the US dollar on Tuesday, amid a muted trend in domestic equities. Forex traders said the strength of the American currency capped sharp gains for the local unit.

At the interbank foreign exchange market, the local unit opened at 82.82 against the US currency and witnessed a high of 82.76 and a low of 82.84 during intra-day trade. The local unit settled at 82.82 (provisional), registering a gain of 2 paise over its previous close. On Monday, the rupee closed at 82.84 against the US currency.