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Indian equities witnessed pressure at higher levels, ending little changed in what turned out to be a volatile and rangebound trading session.
The S&P BSE Sensex ended 30 points lower at 50,363 while the NSE Nifty 50 index ended 20 points lower at 14,910. Both benchmark indices have now declined for three straight sessions.
Among the sectoral indices, it was the banking stocks that were the biggest laggards in today's session. The Nifty Bank declined 1% while the PSU Bank index fell 1.3%.
The Metal index too was among the top laggards, ending 0.8% lower. Defensive plays like technology and consumer names outperformed in today's session. The Nifty I.T. index ended with gains of 1.3% while the FMCG index rose 0.9% by the close of trade.
Broader markets outperformed in today's session. The Nifty Midcap index rose 0.4% while the Smallcap index ended with gains of 0.3%.
The India Volatility Index fell to its lowest in over two months, ending 4.2% lower at 20.19.
1,009 stocks on the NSE posted losses while 884 stocks reported gains.
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Indian equities have opened with steady gains after a two-day drop, tracking gains on Wall Street as well as the Asia-Pacific.
The S&P BSE Sensex opened 0.4% higher at 50,608 while the NSE Nifty 50 opened 0.45% higher at 14,996. Benchmark indices did manage a recovery from the day's low on Monday but ended with losses for the second straight day.
Among the sectoral indices, the Nifty Bank index has opened 0.5% higher, as has the PSU Bank index. The Auto index is up 0.4% while the Nifty Metal index also saw gains of 0.5% at the start of trade. The Nifty Media index was the underperformer, opening 0.3% lower.
Broader markets have opened in-line with the benchmark indices. Both Nifty Midcap and Nifty Smallcap indices have opened with gains of 0.4% each.
1,226 stocks on the NSE have opened higher while 401 are trading with losses.
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