Stock Market Highlights: Nifty, Sensex End Topsy-Turvy Trade With Minor Gains
Intraday, Nifty rose as much as 0.89% or 211.25 points, while Sensex 757.31 points or 0.97% to 78,741, the highest since Jan. 6.
The benchmark equity indices extended its gains on Tuesday for the seventh day, with Nifty and Sensex closing a see-saw session with minor gains. This is the longest winning streak since September 2024.
The indexes gave up gains towards the end after hitting a three-month high.
The NSE Nifty 50 ended 10.30 points or 0.04% higher at 23,668.65 after it crossed the 23,800 mark earlier in the day, while the BSE Sensex closed 32.81 points or 0.04% higher.
Intraday, Nifty rose as much as 0.89% or 211.25 points, while Sensex rose 757.31 points or 0.97% to 78,741, the highest since Jan. 6.
"Technically, after an early morning intraday rally, the market witnessed profit booking at higher levels. On the daily charts, a shooting star kind of formation has formed, indicating potential weakness from the current levels," said Shrikant Chouhan, Head Equity Research, Kotak Securities.
HDFC Bank Ltd., Infosys Ltd., UltraTech Cement Ltd., Axis Bank Ltd., and Bharti Airtel Ltd. pulled the Nifty Index higher.
Reliance Industries Ltd., ICICI Bank Ltd., Mahindra & Mahindra Ltd., State Bank of India and Larsen & Toubro weighed on the index the most.
On the NSE, 10 out of the 12 sectors fell, with two closing in the green. Nifty IT and Nifty Finance closed in the green, while Nifty Defence and Nifty PSU Bank closed in the red after being the top sectors on Tuesday. Nifty IT was the top sectoral gainer, and it extended gains for the fourth session. Nifty Financial Services closed higher for the seventh day, while Nifty Bank snapped its eight-day gaining streak.
Nifty FMCG also snapped its three-day gaining streak, while Nifty Metal, Nifty Media and PSU Bank snapped their five-day winning streak.
On the BSE three of the 21 sectors advanced with BSE Information Technology, BSE TECk leading the gains.
The broader markets ended lower, with the BSE MidCap ending with lose of 1.13% and the SmallCap falling 1.63%.
The market breadth was skewed in the favour of sellers, as 2,980 stocks declined, 1,087 advanced and 110 remained unchanged on the BSE.
