Indian equity markets witnessed a day of mild turbulence but ended largely flat by the close of Tuesday’s trading session. The Nifty 50 edged lower by 0.12 percent, closing at 25,060, while the Sensex slipped 14 points to settle at 82,180. The broader trend showed signs of consolidation, with investors appearing cautious ahead of fresh triggers.
Market activity during the day suggested limited momentum across most sectors, particularly in the banking and midcap spaces. The Nifty Bank ended nearly 200 points down, finishing at 56,750. Meanwhile, the BSE Midcap index underperformed, falling 290 points to close at 46,745, while the Smallcap index dropped 100 points to end at 55,186. This underperformance in mid and small caps reflects growing caution among investors in high-beta segments.
Market expert Rupak De from LKP Securities noted that the Nifty failed to cross its 50-period moving average on the hourly chart, which indicates resistance in the current range. While the index did find support around 24,900, it also struggled to break past the upper barrier at 25,260. Until a clear breakout emerges, the market may continue to move sideways.
Out of over three thousand traded stocks today, only 1,275 ended in the green, while 1,672 declined. The rest remained unchanged. However, despite the lackluster tone, 74 stocks touched new 52-week highs, signaling that pockets of investor enthusiasm still exist. On the flip side, 24 stocks hit new 52-week lows, reflecting pressure in select counters.
Zomato delivered a standout performance and emerged as the top gainer in the Nifty 50 pack, rallying over 10 percent during the day. Investors responded positively to renewed confidence in the company’s business model and the broader resilience of the Internet and e-commerce segment. Other gainers included HDFC Bank, Hindalco, Titan, and Bharat Electronics, all showing steady upward movement.
On the losing side, Shriram Finance bore the brunt of selling pressure, followed closely by Eicher Motors, Jio Financial Services, Adani Ports, and Bajaj Auto. These stocks were weighed down by sector-specific developments and cautious sentiment among institutional investors.
Sectorally, the Internet and E-Commerce space led the market with an impressive 4.5 percent gain in market capitalization. Services and packaging stocks also registered meaningful gains. Interestingly, transport stocks managed to climb one percent, edging past leather sector counters, while the Gems and Jewellery sector posted a modest 0.7 percent increase.
The mood across the broader markets seems to be one of wait and watch. As investors digest earnings reports and macroeconomic signals, short-term consolidation could persist unless a major catalyst pushes the indices out of the current range. Traders will also be eyeing global market cues, inflation data, and FII flows to gauge near-term direction.
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