The benchmark stock indices ended a lackluster session on Tuesday with little change as gains in Infosys Ltd., and Larsen & Toubro Ltd. supported the indices, while losses in Reliance Industries Ltd. and Hindustan Unilever Ltd. weighed on the indices.
The NSE Nifty 50 ended 7.15 points or 0.03% higher at 25,017.75, and the S&P BSE Sensex closed 13.65 points or 0.02% up at 81,711.76.
Intraday, the Nifty rose 0.25% to 25,073.10 and the Sensex rose 0.27% to 81,919.11. The Nifty index moved in the range of 99.45 points and the Sensex moved in a 318.6-point range.
"On the daily timeframe, the index has made a Doji candlestick pattern near the record levels, indicating indecisiveness between the bulls and bears," Aditya Gaggar, director of Progressive Share Brokers, said.
"A firm close above 25,100 will push the index higher to the 25,200–25,300 zone. On the flip side, 24,870 will be considered as an immediate strong support," Gaggar said. Doji candlestick is a pattern found in charts of analysis of financial instruments.
Infosys Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., Maruti Suzuki India Ltd., and Bajaj Finance Ltd. led the gains in the Nifty.
Reliance Industries Ltd., Hindustan Unilever Ltd., ITC Ltd., HDFC Bank Ltd. and Titan Co. weighed on the index the most.
On the NSE, six sectors advanced, four declined and two ended flat out of 12. The Nifty Media rose the most, while FMCG declined the most.
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The broader markets outperformed the benchmark indices as the BSE MidCap and the SmallCap indices ended 0.58% and 0.5% higher respectively.
On the BSE, nine sectors advanced and 11 declined out of 20. Telecom ended with the most gains, while FMCG declined the most.
The market breadth was skewed in favour of the buyers as 2,154 stocks advanced, 1,803 declined and 94 remained unchanged on the BSE.
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