Indian equity markets ended the day largely unchanged on Tuesday, reflecting mixed global cues and investor caution.
At the close, the Sensex stood at 81,711, up by a modest 13.65 points, while the Nifty ended at 25,017, gaining 7 points.
This marks the second consecutive day that the Nifty has closed above the 25,000 mark.
The day’s trading saw a stronger performance from midcap and smallcap stocks compared to their largecap counterparts.
The Nifty Midcap 100 index rose to 59,220, an increase of 289 points or 0.49%, while the Nifty Smallcap 100 index climbed to 19,333, up by 201 points or 1.05%.
Market analysts attributed the flat close to a mix of profit-taking near record highs and cautious sentiment due to geopolitical tensions and rising crude oil prices.
While there is ongoing optimism about a potential rate cut by the US Federal Reserve in September, these factors have kept investors wary amid elevated valuations.
Sector performance varied, with financial services, pharmaceuticals, real estate, media, and private banks emerging as the top gainers. Conversely, FMCG, metals, energy, infrastructure, and commodities sectors were among the day’s biggest decliners.
In the Sensex basket, notable gainers included Bajaj Finserv, Maruti Suzuki, L&T, Bajaj Finance, Infosys, ICICI Bank, Sun Pharma, Axis Bank, and Bharti Airtel. On the downside, Titan, JSW Steel, HUL, Tata Motors, NTPC, ITC, Power Grid, and Reliance saw losses.
Rupak De, Senior Technical Analyst at LKP Securities, commented, “The market is in a state of indecision, as reflected by the Doji pattern on the Nifty’s daily chart. The significant activity of both call and put option writers at the 25,000 strike price suggests the Nifty may remain range-bound or experience a slight decline in the near term.”
He further added, “Support may be found around 24,800, while a breakout above 25,100 could push the Nifty towards 25,300.”
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