The Indian benchmark indices settled flat on Tuesday, as buying interest in Eternal, ICICI Bank, and HDFC Bank was offset by selling pressure in index heavyweights such as Reliance Industries and Infosys.
BSE Sensex and NSE Nifty50 declined today, thanks to the quarterly results and weak global cues.
The BSE Sensex ended the day at 82,186.81, down 13.53 points or 0.02 per cent. The NSE Nifty50 fell 29.80 points, or 0.12 per cent, to settle at 25,060.90.
Stocks such as Tata Motors, which fell 2.04 per cent to Rs 673.30, and Adani Ports, which plunged 1.9 per cent, led the losers on the Sensex. They were followed by State Bank of India (down 1.12 per cent), Reliance Industries (down 1.08 per cent), Larsen & Toubro (down 1.07 per cent), and ITC (down 0.96 per cent), which fell up to 1.1 per cent.
Reliance Industries, Infosys, Larsen & Toubro, ITC, and State Bank of India contributed most to the Sensex’s fall. The BSE Bankex fell 0.18 per cent, or 111.39 points, to settle at 63,434.44.
Ajit Mishra, SVP, Research at Religare Broking Ltd, said the markets remained range-bound and ended almost flat, indicating a pause amid mixed signals. After an initial uptick, the Nifty gradually drifted lower in the first half, followed by a sideways move until the close. Most key sectors ended in the red, with pharma, realty, and auto emerging as the top losers. The broader indices also mirrored the trend, shedding nearly half a percent each.
“The market continues to lack clear direction amid mixed earnings announcements and muted global cues. We maintain a cautious stance until the Nifty decisively reclaims the 25,250 mark, while immediate support is seen at 24,900. Meanwhile, traders should adopt a hedged approach and focus on fundamentally strong counters, with an emphasis on earnings performance,” Mishra said.
Vinod Nair, Head of Research at Geojit Investments Limited, said the market’s attention is on quarterly earnings, which slowed lately after some traction from banking stocks. Positivity was noticed on Friday and Monday, tapering ahead of the critical August 1st deadline of the U.S. trade agreement.
“Upside in Q1 earnings will be the critical point to sustain the current premium valuations. Continued profit booking by the FIIs exerts downward pressure, while steady inflows from DIIs could support a range-bound movement with a positive bias towards Q1 results and the trade deal,” Nair said.
On the BSE, 4,198 stocks traded today, of which 1,790 advanced, 2,231 declined, and 177 remained unchanged.
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