Sensex, Nifty Struggle To Hold On To Their Three-Day Gains: Midday Market Update

Sensex declined 0.10% at 62,207.64, while the Nifty 50 traded flat by 0.05% at 18,474.75.

<div class="paragraphs"><p>Midday Market Update: Sensex, Nifty Volatile (Source: Luke Chesser/Unsplash)</p></div>
Midday Market Update: Sensex, Nifty Volatile (Source: Luke Chesser/Unsplash)

Indian stock benchmarks swung between gains and losses during afternoon trade as they struggled to hold on to gains to extend a three-day rally on Friday.

Advances in realty and automobile stocks were mostly offset by losses in power and banking stocks.

At 12:43 p.m., the Sensex declined 0.10% to 62,207.64, while the Nifty 50 traded flat by 0.05% at 18,474.75.

The Sensex hit a fresh record high of Rs 62,447.73, while the Nifty 50 touched a fresh 52-week high of 18,533.15 during the pre-market session.

Among Nifty 50 constituents, 27 stocks advanced while 23 declined.

Coal India Ltd., HDFC Life Insurance Co., Reliance Industries Ltd., Bharat Petroleum Corporation Ltd., and Maruti Suzuki India Ltd. were the top gainers, while Nestle India Ltd., ICICI Bank Ltd., Adani Enterprises Ltd., Kotak Mahindra Bank Ltd., and SBI Life Insurance Co. were the top losers.

The broader indices outperformed their larger peers, with the mid-cap and small-cap indices gaining 0.75% and 0.71%, respectively. While large-cap mostly mirrored its larger peers.

Twelve out of the 20 sectoral measures complied by BSE Ltd. advanced, with BSE realty and auto gaining the most.

The market breadth is skewed in favour of the bulls. About 2,064 stocks rose, 1,329 fell and 136 remained unchanged.