The Indian benchmark equity market indices ended higher for the second consecutive session on Tuesday. The NSE Nifty 50 closed 0.03% higher at 24,335.95 while the BSE Sensex ended 0.09% up at 80.288.38.
Reliance Industries Ltd. share price closed 2.26% higher to Rs 1,399.7 apiece, while Infosys Ltd. closed 1.04% higher at Rs 1,497.50 per share.
Shares of HDFC Bank Ltd. and Sun Pharmaceuticals Ltd. weighed on the index. HDFC Bank's share price dropped 0.59% to Rs 1,908.80 apiece while Sun Pharma's shares fell 1.96% to Rs 1,805.50.
The market may remain steady in the near term, as the NSE Nifty 50 hasn't yet shown a clear breakout above 24,550, according to Rupak De, senior technical analyst at LKP Securities.
"On the lower end, support is placed at 24,250; a breach below this level could trigger increased selling pressure in the market," he said.
On the NSE, 12 sectoral indices ended higher out of 15, with the NSE Nifty Defence rising the most. The NSE Nifty Pharma declined the most.
On BSE, the BSE Midcap and Smallcap indices ended 0.23% and 0.09% higher, respectively.
Around eight sectors advanced and 13 declined out of 21. The BSE Information Technology rose the most, while the BSE Utilities declined the most.
Market breadth has favoured the sellers over buyers. Around 1,830 stocks advanced, and 2,095 stocks declined on the BSE.
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