- Sensex falls, Nifty slightly flat
- IT and Pharma shares fell
- South Korea’s Kospi, Japan’s Nikkei closed positive
Share Market Closing: On Tuesday, the rally in the last two sessions of the Indian stock market came to a halt. Both the benchmark indices Nifty and Sensex remained almost flat in volatile trade. BSE Sensex fell 42 points, while NSE Nifty edged up marginally. Markets edged lower as gains were recovered in information technology and pharmaceuticals sectors.
The 30-share BSE Sensex closed down 42.64 points, or 0.05 percent, at 85,524.84. It touched a high of 85,704.93 and a low of 85,342.99 during the day. While the 50-share NSE Nifty ended marginally higher by 4.75 points, or 0.02 per cent, at 26,177.15. Metals, FMCG and energy stocks saw buying pressure, while IT and pharmaceuticals remained under pressure.
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Shares on the Sensex included Infosys, Bharti Airtel, Adani Ports, Sun Pharma, Tech Mahindra, Eternal, Axis Bank and Maruti, while ITC, Ultratech Cement, Tata Steel and HDFC Bank also fell. According to market experts, “Global markets closed range-bound on mixed cues. Selling pressure continued across most sectors, though financials and FMCG sectors provided some support.”
“Investors are now planning their strategies for the upcoming quarterly results,” he said. Also, investors are keeping a close eye on the Federal Reserve’s policy outlook, as the prospect of a rate cut at its January meeting is slowly increasing. The BSE Smallcap index, representing smaller companies, rose 0.38 percent, while the Midcap index, representing medium-sized companies, gained 0.07 percent.
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Ajit Mishra, senior vice-president (research) at Religare Broking Ltd, said the market remained sluggish in the weekly close of futures and options trading and remained relatively flat after the recent rally. In other Asian markets, South Korea’s Kospi, Japan’s Nikkei and China’s Shanghai Composite closed positive, while Hong Kong’s Hang Seng fell. European markets, however, showed a mixed trend in afternoon trade.
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