Mumbai (Maharashtra) [India]: The stock market closed flat on Tuesday amidst ups and downs. Benchmark index Sensex fell 33.48 points to close at 76,456.59, while Nifty rose 5.65 points to close at 23,264.85.
Despite the decline in overall market performance, construction, automobile and public sector undertaking (PSU) bank sectors remained the standout performers.
Throughout the day's trading, Sensex and Nifty displayed mixed signals, with the benchmark indices continuing their gains during intra-day trading.
The movement was mainly driven by the strong performance of major automobile stocks like Larsen & Toubro (L&T) and Tata Motors and Maruti.Resilience in these sectors provided a cushion against broader market volatility.
Broader market indices outperformed the benchmarks, with BSE Smallcap index rising 1.08 per cent and BSE Midcap rising 0.81 per cent.
Even amid an overall uncertain market environment, these gains indicate strong investor confidence in small and medium-sized companies.
At the end of the trading session, there were 28 gainers and 22 decliners among Nifty companies.
Top gainers include Oil and Natural Gas Corporation (ONGC), Tata Motors, L&T, Adani Ports and Maruti Suzuki.Due to positive regional developments and optimistic market sentiment, these companies experienced strong buying interest.
In contrast, stocks like Kotak Mahindra Bank, Divi's Laboratories, ITC, Reliance Industries and Dr Reddy's Laboratories witnessed significant decline.
These stocks faced selling pressure due to various factors including sector-specific headwinds and profit-booking by investors.
"Asian markets painted a more gloomy picture, with MSCI's broadest index of Asia-Pacific shares outside Japan falling 0.5 per cent, particularly Chinese blue-chips," said Varun Agarwal, founder and managing director of Profit Idea. Shares fell." By 1.2 percent, causing the yuan to fall to a seven-month low, the decline underlined growing concerns over China's economic outlook and its impact on regional markets.
Investors are keeping a close eye on upcoming US consumer price inflation data and the Federal Reserve's policy decision due on Wednesday.
"Anticipation for these key economic indicators has kept market participants on edge, with rate futures indicating a lower expectation for the Federal Reserve to be 38 basis points lower for the year, down from the previous expectation of 50 basis points," Agarwal said. "
Gold prices remained steady and above one-month lows as investors await further economic data that could weigh on market sentiment.
Meanwhile, oil prices remained steady, with Brent crude futures trading at US$81.62 per barrel ahead of the release of key supply and demand data.Tuesday's market session in India was marked by sector-specific performance and broader market resilience amid global economic uncertainties.
The market is likely to remain volatile in the coming days as investors prepare for the release of important economic data and policy decisions.
Despite the decline in overall market performance, construction, automobile and public sector undertaking (PSU) bank sectors remained the standout performers.
Throughout the day's trading, Sensex and Nifty displayed mixed signals, with the benchmark indices continuing their gains during intra-day trading.
The movement was mainly driven by the strong performance of major automobile stocks like Larsen & Toubro (L&T) and Tata Motors and Maruti.Resilience in these sectors provided a cushion against broader market volatility.
Broader market indices outperformed the benchmarks, with BSE Smallcap index rising 1.08 per cent and BSE Midcap rising 0.81 per cent.
Even amid an overall uncertain market environment, these gains indicate strong investor confidence in small and medium-sized companies.
At the end of the trading session, there were 28 gainers and 22 decliners among Nifty companies.
Top gainers include Oil and Natural Gas Corporation (ONGC), Tata Motors, L&T, Adani Ports and Maruti Suzuki.Due to positive regional developments and optimistic market sentiment, these companies experienced strong buying interest.
In contrast, stocks like Kotak Mahindra Bank, Divi's Laboratories, ITC, Reliance Industries and Dr Reddy's Laboratories witnessed significant decline.
These stocks faced selling pressure due to various factors including sector-specific headwinds and profit-booking by investors.
"Asian markets painted a more gloomy picture, with MSCI's broadest index of Asia-Pacific shares outside Japan falling 0.5 per cent, particularly Chinese blue-chips," said Varun Agarwal, founder and managing director of Profit Idea. Shares fell." By 1.2 percent, causing the yuan to fall to a seven-month low, the decline underlined growing concerns over China's economic outlook and its impact on regional markets.
Investors are keeping a close eye on upcoming US consumer price inflation data and the Federal Reserve's policy decision due on Wednesday.
"Anticipation for these key economic indicators has kept market participants on edge, with rate futures indicating a lower expectation for the Federal Reserve to be 38 basis points lower for the year, down from the previous expectation of 50 basis points," Agarwal said. "
Gold prices remained steady and above one-month lows as investors await further economic data that could weigh on market sentiment.
Meanwhile, oil prices remained steady, with Brent crude futures trading at US$81.62 per barrel ahead of the release of key supply and demand data.Tuesday's market session in India was marked by sector-specific performance and broader market resilience amid global economic uncertainties.
The market is likely to remain volatile in the coming days as investors prepare for the release of important economic data and policy decisions.
