However, the action was seen in select small & midcap names as consolidation in several sectors has benefited select companies who have used the Pandemic to gain share, said an analyst.
The 30-share pack Sensex fell 127.31 points or 0.22 per cent to close at 58,177.76. The index traded in a range of 370 points. Its broader peer NSE Nifty climbed 13.95 points or 0.08 per cent to 17,355.30.
“Indian indices extended their early losses in a volatile session, ahead of the release of domestic inflation data. Despite hopeful signs, the global markets failed to inspire Asian markets,” said Vinod Nair, Head of Research at Geojit Financial Services.
Market at a glance:
- Mining stocks see buying; Coal India jumps 4 per cent
- falls over 2 per cent on profit-taking
- Broader market outperforms; smallcap stocks top gainers
- HUL slips 1 per cent after the co-hosts Annual Analyst Day
Among the bluechip names, Coal India was the top gainer, rising 3.90 per cent. Hindalco, Kotak Mahindra Bank, Tata Steel, Bharat Petroleum, TCS, Wipro, Indian Oil and Maruti Suzuki were the other gainers.
Reliance Industries was the top loser in the Nifty pack, falling 2.30 per cent. ICICI Bank, SBI Life Insurance, HUL, HDFC Bank, Adani Ports, Eicher Motors and M&M were others that ended in the red.
Broader market indices ended higher outperforming their headline peers. Nifty Smallcap added 0.54 per cent and Nifty Midcap rose 0.45 per cent. Nifty 500, the broadest index on NSE, ended up 0.11 per cent.
Hindustan Copper, FDC, Firstsource Solutions, Syngene International, JSW Energy and Mindtree were top gainers from mid and smallcap indices, climbing in the range of 4-8 per cent.
Vodafone Idea, AU Small Finance Bank, Oberoi Realty, Aegis Chemicals, Future Retail and Shilpa Medicare were major losers from broader market space, falling in the range of 2-6 per cent.
The sectoral matrix on the NSE was mixed. Nifty Media was the biggest gainer, up 1.34 per cent. Nifty Metal and Nifty IT were other gainers. Nifty Bank was the biggest loser, down 0.58 per cent. Nifty Private Bank and Nifty Financial Services were among others that fell.
Market breadth was in favour of gainers as 1,719 stocks ended in the green, while 1,544 names settled with cuts. As many as 255 securities hit 52-week highs, mostly from the smallcap space. Meanwhile, 25 names hit 52-week lows, mostly from the microcap space. About 400 stocks hit upper circuit limits and 240 lower circuit limits.
European markets were trading higher. London-based FTSE was up 0.56 per cent while Paris and Frankfurt climbed 0.56 per cent and 0.86 per cent, respectively. In Asia, Japan, South Korea and China ended in the green while others registered losses.
