Stock Market: Sensex, Nifty End Flat Tracking High Volatility. Most Sectors Close In Red

On the 30-share Sensex platform, IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank, HDFC, Reliance, NTPC, Tata Steel emerged winners

The two key equity benchmarks, Sensex and Nifty, on Tuesday ended marginally lower amid high volatility. The two domestic indices closed in the red after a decent start in the morning.

The BSE Sensex was down 40.14 points (0.07 per cent) to end at 57,613. On the other hand, the Nifty closed at 16,951, down 34 points (0.20 per cent).

On the 30-share Sensex platform, IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank, HDFC, Reliance, NTPC, Tata Steel emerged winners. On the flip side, TechM, Tata Motors, Airtel, Wipro, Bajaj Finserv, HCL were among the losers.

In the broader markets, the BSE Midcap index was down 0.4 per cent, and the Smallcap index slipped 0.8 per cent.

Except metal, all other sectoral indices ended in the red with IT, auto, power, realty, and oil and gas down 0.8-1 per cent.

In the previous session on Monday, the BSE Sensex closed at 57,654, up 127 points. On the other hand, the NSE Nifty50 ended day’s trading at 16,986, up 41 points.

As many as 32 Nifty stocks declined, 17 advanced and one closed unchanged. Adani Entertainment, Adani Ports, Tech Mahindra, HeroMotoCorp and Tata Motors were among major Nifty losers.

Vinod Nair, Head of Research at Geojit Financial Services said, "Indian markets continued to stay in the grip of bears as investors remained cautious in expectation of further tightening from the RBI." Nifty small and midcap stocks continued to underperform due to fall in investors risk appetite and FY23 tax harvesting, Nair added.

"Nifty witnessed yet another day of rangebound price action. It consolidated between 16,900 – 17,100 for the third consecutive day," Jatin Gedia, Technical Research Analyst, Sharekhan by BNP Paribas.

In Asian markets, Seoul, Japan and Hong Kong ended in the green, while Shanghai closed marginally lower. European equities were trading in positive territory during the afternoon trade. The US markets ended on a mixed note on Monday.

Global oil benchmark Brent crude climbed 0.50 per cent to $78.51 per barrel. Foreign Portfolio Investors (FPIs) offloaded equities worth Rs 890.64 crore on Monday, according to exchange data.

Meanwhile, the rupee appreciated 15 paise to settle at 82.16 (provisional) against the US dollar on Tuesday, tracking a weak American currency in the overseas market.

At the interbank foreign exchange market, the local unit opened at 82.20 against the American currency and finally closed at 82.16 (provisional) against the greenback, registering a gain of 15 paise over its previous close of 82.31.

During the session, the rupee touched a high of 82.16 and a low of 82.28 against the dollar. The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.26 per cent to 102.59.