Mumbai: Equity benchmark indices Sensex and Nifty ended on a flat note in a lacklustre trade Tuesday as investors preferred to remain on the sidelines awaiting further triggers ahead of macroeconomic data release.
The 30-share BSE Sensex dropped 12.85 points or 0.02 per cent to settle at 74,102.32. During the day, it slumped 451.57 points or 0.61 per cent to hit a low of 73,663.60.
However, the broader index Nifty rose 37.60 points or 0.17 per cent to close at 22,497.90. In the session, the benchmark advanced by 61.8 points or 0.27 per cent to hit a high of 22,522.10.
From the Sensex pack, IndusInd Bank, Infosys, Bajaj Finserv, Mahindra & Mahindra, Zomato, Hindustan Unilever, Power Grid, Axis Bank, UltraTech Cement, Adani Ports, and Tata Consultancy Services were among the laggards.
On the other hand, Sun Pharmaceuticals, ICICI Bank, Bharti Airtel, HCL Technologies, Maruti Suzuki India, Larsen & Toubro, Reliance Industries, Kotak Mahindra Bank and Titan were the gainers.
“Despite significant sell-offs in the US and other Asian markets driven by concerns over an economic slowdown caused by the ongoing trade war, the domestic market is showing signs of a gradual recovery.
“Its relatively lower volatility can be attributed to a moderation in valuations, following recent corrections, along with supportive factors like falling crude oil prices, an easing Dollar Index, and expectations of a rebound in domestic earnings,” Vinod Nair, Head of Research, Geojit Financial Services, said.
The attention remains on the upcoming retail inflation data, which could provide insights into potential interest rate cuts, Nair added.
In Asian markets, Tokyo and Seoul ended lower, while Hong Kong settled flat. Shanghai stock markets finished in the green territory.
US markets plunged to 4 per cent in overnight deals Monday.
Global oil benchmark Brent crude rose 0.71 per cent to $69.77 a barrel.
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs 485.41 crore, while Domestic Institutional Investors (DIIs) picked up equities worth Rs 263.51 crore Monday, according to exchange data.
On Monday, the 30-share BSE Sensex declined 217.41 points to settle at 74,115.17. The Nifty declined by 92.20 points to close at 22,460.30.
PTI
