Strong global cues supported the market in early trading but eventually, traders preferred to book profits. Analysts say the next cue for the market movement will be comments from Federal Reserve officials.
The 30-share pack Sensex fell 14.77 points or 0.03 per cent to close at 55,944.21. The index traded in a range of about 300 points. Its broader peer NSE Nifty climbed 10.05 points or 0.06 per cent to 16,634.65.
“The global market traded positive on Covid vaccine approval and in anticipation of a dovish comment by the Fed chair in the upcoming meeting at Jackson Hole,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Sterling Tools rallies 8 per cent after ICRA upgrades rating
- Canara Bank falls 3 per cent even as Jhunjhunala picks stake
- India VIX, a barometer of volatility, rises over 2 per cent
- After a rally, Bajaj Finserv sees profit-booking; down 3 per cent
Among the bluechip names, Adani Ports was the top gainer, rising 3.70 per cent. HDFC Life Insurance, Hindalco, ONGC, , Tata Motors, TCS and were other gainers.
Bajaj Finserv was the top loser in the Nifty pack, falling 2.93 per cent. Titan, , Maruti Suzuki, Dr Reddy’s Labs, Tata Steel, Axis Bank and JSW Steel were others that ended in the red.
Broader market indices ended up, outperforming their headline peers. Nifty Smallcap advanced 0.79 per cent and Nifty Midcap climbed 0.32 per cent. Nifty 500, the broadest index on NSE, ended up 0.22 per cent.
Hindustan Aeronautics, Aditya Birla Capital, Adani Total Gas, Ircon International, EID Parry and Delta Corps were top gainers from mid and smallcap indices, climbing in the range of 5-8 per cent.
VIP Industries, Edelweiss Financial Services, Chambal Fertilisers, Canara Bank, Gujarat State Petronet and Sun TV were major losers from the broader market space, falling in the range of 2-3 per cent.
The sectoral matrix on NSE was mixed. Nifty IT was the top gainer, rising 0.73 per cent. Nifty FMCG and Nifty Metal were other gainers. Nifty Realty, down 0.78 per cent, was the top loser. Nifty Media was another major loser.
Market breadth was in favour of gainers as 1,991 stocks ended in the green, while 1,214 names settled with cuts. As many as 150 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 28 names hit 52-week lows, mostly from the microcap space. About 445 stocks hit upper circuit limits and 235 lower circuit limits.
European markets were trading mixed. London-based FTSE was up 0.20 per cent while Paris and Frankfurt advanced 0.25 per cent and declined 0.14 per cent, respectively. In Asia, Japan, Singapore and Hong Kong ended in the red while the rest registered gains.
