Sensex Closing Bell: On Tuesday, the Sensex and Nifty closed flat with minor changes, while broader markets saw a slight increase. Here's a detailed look at today's share market activity.
Tuesday proved to be a day of ups and downs for the share market. The weekly expiry led to caution in the market. The Sensex and Nifty closed with minor gains after the day's trading. Meanwhile, midcap and smallcap shares saw some decline. Banking and metal sectors witnessed slight buying, while FMCG, realty, and IT shares remained under pressure.
Sensex and Nifty Closing Levels
After fluctuating throughout the day, the BSE Sensex closed at 83,697, up 91 points. The NSE Nifty closed at 25,546, with a slight increase of 25 points. Bank Nifty gained 154 points and closed at 57,467. However, midcap shares saw a decline, and the Nifty Midcap Index closed at 59,719, down 23 points.
Strength in Banking Shares
The buying trend in government banks continued. The Nifty PSU Bank index closed higher for the sixth consecutive day. Investors' interest in these banks remained, creating a positive atmosphere in this sector. Some shares in private banks also performed well.
Reliance Shares at 9-Month High
Reliance Industries shares saw a 2 percent increase today, driven by positive research notes from brokerage firms. This pushed the share to its 9-month high. The market anticipates that the company's upcoming quarterly results may be b.
Specific Stock Movements
- Apollo Hospitals: The company announced its restructuring plan, after which its shares closed with a 3.5 percent increase.
- Gabriel India: Following news related to restructuring, the company's shares jumped by an impressive 20 percent. This stock remained a favorite among investors today.
- M&M and Eicher Motors: After the release of June's sales figures, shares of these auto companies saw an increase. M&M's steady growth and Eicher's b motorcycle sales impacted the shares.
- Tata Motors: This auto stock was under pressure today and closed with a decline at the end of the day.
- Karur Vysya Bank: The bank's shares rose by 2 percent due to good business updates in the April-June quarter.
- Dixon Technologies: Morgan Stanley downgraded the company's rating, resulting in a 2 percent decline in the stock.
- NMDC: The company cut the prices of lumps and fines, impacting its share. The stock fell by about 3 percent.
- Sigachi Industries: After the news of a fire in the Telangana-based unit, investors showed nervousness. The stock has fallen by about 17 percent in the last two trading sessions.
Sectoral Performance Remained Mixed
Today's trading saw a mixed trend at the sectoral level. The metal and oil & gas indices recorded a slight increase, while declines were seen in sectors like FMCG, realty, and IT. IT shares were affected by global signals and fluctuations in the dollar, while concerns about inflation were observed in FMCG shares.
Midcap Rally Pauses
The rally in midcap shares had been going on for the last seven trading sessions. But today, this rally was halted. Due to profit booking by investors, pressure was seen in many midcap shares. However, buying continued in some select shares.
Caution in the Market
Trading volume remained light on the expiry day. Investors avoided making large new bets and traded within a limited range. Foreign investors also appeared cautious, while domestic institutional investors continued to buy to some extent.
