Benchmark equity indices Sensex and Nifty ended almost flat on Tuesday, pausing after a record-breaking rally as investors awaited further market triggers.
The 30-share BSE Sensex declined by 33.49 points, or 0.04 percent, to settle at 76,456.59, after rising 370.45 points earlier in the session. The NSE Nifty closed marginally higher by 5.65 points, or 0.02 percent, at 23,264.85.
"After a notable rebound, the domestic market has stabilized, awaiting further triggers," noted Vinod Nair, Head of Research at Geojit Financial Services.
Concerns about potential US rate cuts following strong US job data have increased US bond yields, while FIIs have been net buyers. Investors are now looking ahead to this week's policy decisions from the US Fed and BoJ, and key inflation data from the US and India.
Major laggards among Sensex companies included Kotak Mahindra Bank, Asian Paints, Reliance Industries, ITC, Sun Pharma, ICICI Bank, Axis Bank, and JSW Steel. Top gainers were Larsen & Toubro, Tata Motors, Maruti, NTPC, Mahindra & Mahindra, and UltraTech Cement.
In the broader market, the BSE smallcap gauge climbed 0.95 percent, and the midcap index rallied 0.74 percent. Sectoral indices showed mixed results, with telecommunication (1.93 percent), oil and gas (1.84 percent), and realty (1.04 percent) gaining, while metal, FMCG, and consumer durables sectors lagged.
Asian markets were mixed, with Seoul and Tokyo closing higher, while Shanghai and Hong Kong ended lower. European markets traded lower, and US markets finished positively on Monday.
"Global equities were mixed on Tuesday in a busy week that will bring some important reports on US inflation along with a policy meeting of the Federal Reserve," said Deepak Jasani, Head of Retail Research at HDFC Securities.
Prime Minister Narendra Modi retained key ministers in the Home, Defence, Finance, and External Affairs ministries, signaling continuity in the new government. Brent crude declined 0.32 percent to USD 81.37 a barrel. FIIs bought equities worth Rs 2,572.38 crore on Monday.
Looking ahead, investors are watching the upcoming policy decisions from the US Federal Reserve and the Bank of Japan, along with key inflation data from the US and India, for further market direction.
Follow us
