Nifty Close Flat As Infosys, RIL Weigh: Market Wrap
Most sectoral indices ended lower on the NSE, with the Nifty Media declining the most.
The benchmark indices closed mixed on Tuesday as the NSE Nifty 50 ended flat and at an all-time high, while the S&P BSE Sensex snapped its 10-session gaining streak.
The Nifty ended 1.15 points higher at 25,279.85, and the Sensex was 4.4 points or 0.01%, down at 82,555.44.
On the Nifty's hourly chart, there are divergences emerging but consolidation is still away, according to Kush Bohra, founder of investment advisory firm kushbohra.com.
"The price is not suggesting any imminent correction; there is no price action on the downside," Aditya Agarwal, head of research and investments at Invest4edu, said.
Shares of ICICI Bank Ltd., HDFC Bank Ltd., SBI Life Insurance Co. and HDFC Life Insurance Co. contributed the most to the gains in the Nifty.
Infosys Ltd., Reliance Industries Ltd. and Bharti Airtel Ltd. weighed on the index the most.
Most sectoral indices ended lower on the NSE, with the Nifty Media declining the most.
Broader markets outperformed the benchmark indices as the BSE MidCap and the SmallCap ended 0.19% and 0.53% higher, respectively.
On the BSE, 11 sectors advanced, and nine declined out of 20. The BSE Consumer Durables rose the most, and the BSE Oil & Gas declined the most.
The market breadth was evenly split between buyers and sellers as 2,011 stocks advanced, 1,925 declined and 118 remained unchanged on the BSE.
