Sensex, Nifty End Higher Even As Financial Services Stocks Fall: Market Wrap
The S&P BSE Sensex ended 31 points or 0.04% higher at 71,386.21 and the NSE Nifty 50 gained 32 points or 0.15% to end at 21,544.85.
India's benchmark stock indices closed marginally higher on Tuesday amid losses in the financial services sector.
The S&P BSE Sensex ended 31 points or 0.04% higher at 71,386.21 and the NSE Nifty 50 gained 32 points or 0.15% to end at 21,544.85. The Sensex hit intraday high of 72,035.47 and the Nifty reached 21,724.45 early in the day.
"Despite opening on a positive note, the Nifty 50 index continues to face hurdles near 21,750–21,800 zone," Avdhut Bagkar, technical and derivatives analyst at StoxBox, said. "The trend was resilient until the selling pressure mounted in the second half."
"The support of 21,500 keeps floating the upside bias. While the index succeeded to close in green, the trend remains fragile," Bagkar said.
Larsen & Toubro Ltd., Bharti Airtel Ltd., Infosys Ltd., Adani Ports and Special Economic Zone Ltd. and Sun Pharmaceutical Industries Ltd. led the gains in Nifty 50.
HDFC Bank Ltd., Reliance Industries Ltd., ICICI Bank Ltd., Axis Bank Ltd. and Asian Paints Ltd. weighed on the indices.
Seven out of the 12 sectors on the NSE advanced, with the Nifty Media falling the most and the Nifty Realty being the top gainer.
The broader markets ended on a mixed note as the BSE Smallcap advanced 0.37% and the MidCap Index was 0.07% higher.
Fifteen out of the 20 sectors on the BSE advanced, with Realty becoming the top gainer and Bankex declining the most.
The market breadth was skewed in favour of the buyers as 2,245 stocks gained, 1,601 declined and 98 remained unchanged on the BSE.
