MUMBAI: Equity benchmark indices Sensex and Nifty ended almost flat in a lackluster session on Tuesday, as investors remained on the sidelines ahead of key macroeconomic data releases.
The 30-share BSE Sensex slipped 12.85 points or 0.02 per cent to close at 74,102.32. During the day, it dropped 451.57 points or 0.61 per cent to touch a low of 73,663.60. In contrast, the broader Nifty rose 37.60 points or 0.17 per cent to settle at 22,497.90 after hitting an intraday high of 22,522.10, up 61.8 points or 0.27 per cent.
Among the Sensex laggards were IndusInd Bank, Infosys, Bajaj Finserv, Mahindra & Mahindra, Zomato, Hindustan Unilever, Power Grid, Axis Bank, UltraTech Cement, Adani Ports, and Tata Consultancy Services.
On the gaining side, Sun Pharmaceuticals, ICICI Bank, Bharti Airtel, HCL Technologies, Maruti Suzuki India, Larsen & Toubro, Reliance Industries, Kotak Mahindra Bank, and Titan advanced.
Signs of recovery
Despite significant sell-offs in US and other Asian markets due to concerns over an economic slowdown caused by the ongoing trade war, the domestic market is showing signs of a gradual recovery.
“Lower volatility can be attributed to moderation in valuations after recent corrections, along with supportive factors like falling crude oil prices, an easing Dollar Index, and expectations of a rebound in domestic earnings,” said Vinod Nair, Head of Research at Geojit Financial Services. He added that investors remain focused on upcoming retail inflation data, which could provide insights into potential interest rate cuts.
In Asian markets, Tokyo and Seoul closed lower, while Hong Kong ended flat. Shanghai stocks finished in the green. On Wall Street, US markets plunged up to 4 per cent in overnight trading on Monday.
Brent crude rose 0.71%
Meanwhile, Foreign Institutional Investors (FIIs) offloaded equities worth Rs485.41 crore, while Domestic Institutional Investors (DIIs) bought stocks worth Rs263.51 crore on Monday, according to exchange data.
On Monday, the Sensex had declined 217.41 points to settle at 74,115.17, while the Nifty dropped 92.20 points to close at 22,460.30.
