The benchmark stock indices resumed its declining trajectory on Tuesday after a one-day rise as share prices of Infosys Ltd. and State Bank of India dragged.
The NSE Nifty 50 ended 25.80 points or 0.11% down at 23,727.65 and the BSE Sensex settled 67.30 points or 0.1% lower at 78,472.87. During the day, the Nifty rose 0.48% to 23,867.65, while the Sensex advanced 0.43% to 78,877.36.
"Technically, after a muted opening, the market witnessed range-bound activity throughout the day. It also formed a small inside body candle on the daily charts," Shrikant Chouhan, head of equity research at Kotak Securities, said. "We believe that the current market texture is non-directional as traders seem to be waiting for a breakout in either direction."
ITC Ltd., Tata Motors Ltd., Tata Consultancy Services Ltd., Mahindra & Mahindra Ltd. and Trent Ltd. added to the Nifty the most.
Infosys, SBI, HDFC Bank Ltd., Power Grid Corp. and Titan Co. weighed on the index the most.
On the NSE, nine sectors declined and three advanced out of 12, with the Nifty Metal declining the most and Auto rising the most.
The broader markets outperformed the benchmark indices as the BSE MidCap and SmallCap settled 0.09% and 0.37% higher respectively.
On the BSE, 13 sectors declined and eight advanced out of 21. Metal declined the most and Services rose the most.
The market breadth was skewed in favour of the sellers as 2,022 stocks declined, 1,976 advanced and 94 remained unchanged on the BSE,
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