After an initial surge, profit-booking dominated the share market. The Sensex closed flat at 78,017 and the Nifty at 23,668. The IT sector shone, while banking and metal stocks declined.
Stock Market Update: Tuesday witnessed a positive opening for the seventh consecutive day. The Sensex and Nifty started trading higher, but profit-booking in mid and small-cap stocks caused the market to slip from its highs. The Sensex fell by over 700 points and the Nifty by over 200 points from their intraday peaks. Finally, the Sensex closed up 32.81 points (0.04%) at 78,017.19, and the Nifty closed up 10.31 points (0.04%) at 23,668.65.
Top Gainers: IT and Cement stocks surge
UltraTech Cement shares closed up 3.35% at ₹11,421 today. Other top gainers included Bajaj Finserv (2.69%), Trent (2.58%), Infosys (2.25%), and Grasim Industries (2.24%).
Top Losers: Banking and Metal stocks decline
IndusInd Bank saw the biggest decline (-4.84%), closing at ₹637.05. Other top losers included Dr. Reddy's (-2.68%), Adani Enterprises (-2.05%), Coal India (-1.90%), and Adani Ports (-1.53%).
Sectoral Performance: IT index rallies, banking and metal under pressure
The Nifty IT index strengthened by 1.32%, reaching 37,707.
Bank Nifty fell 0.19% to close at 53,131.
Nifty Auto index declined by 0.92%.
Nifty Pharma index fell by 1.05%, while Nifty Metal index dropped 1.40% to close at 9,133.
Expert View: Increased profit-booking in mid-cap and small-cap stocks
According to Vinod Nair, Head of Research at Geojit Investments, profit-booking was observed in the market following six days of sharp recovery. Selling pressure was particularly high in mid-cap and small-cap stocks. He stated, "Buying was seen in the IT sector due to expectations of relief in US tariffs and recent improvements in valuations. However, the market's trajectory will remain cautious."
