Final Trade: Market pares gains, ends flat; Sensex adds 33 pts, Nifty settles at 23,606
Sensex and Nifty erased early gains to end flat as profit booking hit mid and smallcap stocks, while IT outperformed on global cues. Investors remain cautious amid US trade policy uncertainty.
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Indian equity markets gave up early gains to close flat on Tuesday as investors turned cautious amid uncertainty over US trade policy. The benchmark Sensex ended 32.81 points higher at 78,017.19, while the Nifty 50 inched up 10.30 points to settle at 23,668.65. Both indices had surged earlier in the day, with the Sensex gaining nearly 700 points before profit booking kicked in.
Profit booking weighs on broader markets
After a six-day rally, the broader market witnessed selling pressure, particularly in midcap and smallcap stocks, which continue to trade at premium valuations. The BSE Midcap index declined 1 per cent, while the Smallcap index fell 1.5 per cent. Sectorally, auto, metals, oil & gas, realty, and PSU banks saw losses in the range of 1-1.5 per cent.
IT stocks outperform on global cues
While most sectors struggled, IT stocks bucked the trend, gaining on expectations of softer tariffs and attractive valuations following a recent correction. Stocks like Infosys, Wipro, and TCS led the gains in the sector.
Key movers
Among the top Nifty gainers were UltraTech Cement, Trent, Bajaj Finserv, Infosys, and Grasim Industries. On the downside, IndusInd Bank, Dr. Reddy’s Laboratories, Adani Enterprises, Coal India, and Adani Ports were the biggest drags on the index.
Cautious outlook ahead
Market participants are awaiting clarity on US trade policies, which could impact investor sentiment in the near term. Additionally, focus is shifting towards the upcoming corporate earnings season, which will provide insights into earnings recovery. Analysts believe interest rate expectations and rupee movements could continue to influence market trends.
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