Indian benchmark indices ended mixed on Tuesday after surrendering most of their intraday gains in the final hour of trade amid weak global cues. Infosys, Hindalco Industries, Coal India and ONGC dragged the markets as Nestle, Hindustan Unilever and Axis Bank gain.
The NSE Nifty 50 slipped 0.12% to close at 23,214.95, after climbing as high as 23,425.35 during the session. The BSE Sensex managed to end 0.09% higher at 73,983.18 but retreated sharply from its intraday peak of 74,613.01, shedding more than 600 points from the day's high.
Market breadth remained weak, with sectoral trends indicating caution among investors despite support from select heavyweight stocks.
Among individual stocks, Nestle India was the top gainer on the Nifty, rising 1.98%. Hindustan Unilever gained 1.72%, while Axis Bank advanced 1.7%. Kotak Mahindra Bank climbed 1.68% and ICICI Bank added 1.4%, reflecting continued buying interest in financial and consumer-focused stocks.
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In contrast, Hindalco Industries declined 3.47%, emerging as the top loser among Nifty constituents. Coal India fell 3.41%, Infosys dropped 2.97%, Oil and Natural Gas Corporation (ONGC) lost 2.4%, while Eternal ended 2.38% lower.
Banking stocks emerged as the biggest contributors to the Nifty's performance. HDFC Bank contributed 35.32 points to the index, while ICICI Bank added 31.22 points and Axis Bank contributed 14.89 points. Larsen & Toubro and Hindustan Unilever also supported the benchmark, contributing 9.13 points and 7.83 points, respectively.
On the other hand, Infosys was the biggest drag on the Nifty, shaving off 28.02 points from the index. Reliance Industries, Bharti Airtel and Hindalco Industries also weighed on market sentiment.
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Sectorally, only Nifty FMCG and Nifty Financial Services managed to close in positive territory. Nifty FMCG was the best-performing sector, gaining nearly 1%, aided by strong advances in Nestle India and Hindustan Unilever, both of which rose close to 2%.
Nifty Financial Services extended gains for a second consecutive session, supported by strength in private sector banking stocks.
On the downside, Nifty Realty emerged as the worst-performing sector, falling nearly 2%. Anant Raj and Lodha Developers were among the biggest losers in the real estate pack, both declining more than 3%.
The technology sector continued to remain under pressure, with the Nifty IT index falling for a sixth straight trading session amid persistent selling in frontline IT stocks.
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