Indian equity benchmarks closed Tuesday’s trading session almost unchanged. The market remained cautious and divided, as sector-specific gains failed to overpower sustained selling in heavyweight counters.
Investors balanced selective buying in PSU banks, metals and automobiles. Persistent pressure in IT, FMCG, real estate and pharmaceutical stocks capped the upside.
The Sensex ended the day at 84,675.08, slipping 20.46 points or 0.02 per cent. The Nifty closed marginally lower at 25,938.85, down 3.25 points or 0.01 per cent.
Despite intraday volatility, benchmark indices remained range-bound, underscoring the absence of broad-based conviction.
Market analysts noted that the Nifty slipped below its 21-day Exponential Moving Average (EMA), reinforcing a short-term downward bias.
They placed immediate support in the 25,850-25,870 zone. A decisive breach below this range could strengthen bearish momentum, while resistance continues to cap upside near the 26,000 mark.
Traders maintained a cautious stance throughout the session as profit booking in select heavyweights offset gains in cyclical stocks.
On the Sensex, Eternal, Infosys, Asian Paints, UltraTech Cement and Bajaj Finance emerged as the top drags, exerting pressure on the index. Persistent selling in IT and FMCG stocks limited any meaningful recovery.
In contrast, Mahindra & Mahindra, Tata Steel, Bajaj Finserv and Axis Bank provided crucial support and closed in positive territory.
Strong interest in banking and metal stocks helped the benchmarks recover from deeper intraday losses.
The broader market mirrored the subdued sentiment. The Nifty Midcap 100 slipped 0.15 per cent, while the Nifty Smallcap 100 declined 0.28 per cent, indicating mild risk aversion beyond frontline stocks.
Sectoral performance remained sharply divergent. Realty, IT and pharma stocks stayed under pressure throughout the session.
The Nifty Realty index dropped 0.84 per cent, while Nifty IT and Nifty Pharma fell 0.74 per cent and 0.17 per cent, respectively.
On the positive side, aggressive buying lifted cyclical sectors. The Nifty PSU Bank index surged 1.69 per cent, driven by short covering and fresh accumulation.
The Nifty Metal index jumped 2.03 per cent, while the Nifty Auto index gained 1.08 per cent, reflecting renewed interest after recent corrections.
Market participants attributed the flat close to selective buying at lower levels and short covering following the expiry of monthly derivative contracts.
Analysts said banking, auto and metal stocks helped the Nifty claw back most intraday losses, preventing a deeper close in the red.
Overall, the session underscored a stock- and sector-driven market. Investors remained cautious, awaited clearer cues, and preferred precision over aggressive positioning.
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