Nifty, Sensex Gain Marginally As Infosys, M&M Share Prices Rise: Midday Market Update
India's benchmark stock indices erased morning losses to trade marginally high through midday on Tuesday led by gains in Infosys Ltd. and Mahindra & Mahindra Ltd.
As of 12:13 p.m., the Nifty 50 was trading 13.55 points or 0.05% higher at 25,824.40, and the Sensex was 69.49 points or 0.08% up at 84,369.27.
Earlier in the day, the Nifty 50 declined 0.28% to 25,739.20, and the Sensex declined 0.24% to 84,098.94.
"It has been almost three weeks of upmove in the Nifty 50, so markets are witnessing profit taking. Today, we are seeing more broad-based selling," said Ajit Mishra, senior vice president at Religare Broking. "The index has support still around 25,500–25,550. In case the index rises to 25,800–2850, then it's a good shot."
Infosys Ltd., Mahindra & Mahindra Ltd., State Bank of India, Tech Mahindra Ltd., and Bajaj Finance Ltd. added to the gains on the Nifty 50.
HDFC Bank Ltd., Reliance Industries Ltd., Hindustan Unilever Ltd., Bajaj Auto Ltd., and Asian Paints Ltd. weighed on the index.
On NSE, seven sectors advanced and five declined. The NSE Nifty IT rose the most, and Nifty FMCG declined the most.
The BSE Midcap and Smallcap indices were trading 0.02% and 0.49% higher, respectively.
On BSE, 14 sectors advanced while six declined. IT rose the most, and the realty declined the most.
Market breadth was skewed in favour of buyers. Around 2,277 stocks rose, 1,492 stocks declined, and 140 stocks remained unchanged on BSE.
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