Stock Market Highlights: Sensex, Nifty Shrug Off Global Sell-Off To End Mixed
IndusInd Bank, Infosys, Mahindra & Mahindra, Axis Bank and HUL weighed on the Nifty the most.
The benchmark equity indices pared early losses to end Tuesday's session mixed as ICICI Bank Ltd. and Bharti Airtel Ltd. led the recovery.
The NSE Nifty 50 ended 37.60 points or 0.17% higher at 22,497.90, while the BSE Sensex closed 12.85 points or 0.02% down at 74,102.32.
Stocks in the Asia Pacific region extended fall for the third consecutive session, taking cue from the meltdown in US stocks amid fears that tariffs and government firing will stall economic growth in the US.
The initial sell-off was led by weakness in IT, banking and auto stocks, according to Sundar Kewat, technical and derivatives analyst at Ashika Institutional Equity.
"Technically, in the backdrop of weak global sentiment, our market opened with a gap down," Shrikant Chouhan, head of equity research at Kotak Securities, said. "However, due to buying interest at lower levels, it recovered sharply."
IndusInd Bank Ltd., Infosys Ltd., Mahindra & Mahindra Ltd., Axis Bank Ltd. and Hindustan Unilever Ltd. weighed on the index the most.
Shares of ICICI Bank, Bharti Airtel, Reliance Industries Ltd., Sun Pharmaceutical Industries Ltd. and Trent Ltd. led the gains.
Seven out of the 12 sectors on the NSE advanced, with Nifty Realty and Oil & Gas rising the most. The Nifty Realty snapped a three-session losing streak, while Auto fell for the second day.
On the BSE, 13 out of the 21 sectors advanced, with Realty rising the most, while Focused IT led the decline.
The broader markets ended mixed, with the BSE MidCap ending with gains of 0.72% and the SmallCap falling 0.70%.
The market breadth was skewed in the favour of sellers as 2,469 stocks declined, 1,499 advanced and 124 remained unchanged on the BSE.
