Benchmark Indian equity indices ended on a flat note on Tuesday amid a volatile session, as elevated crude oil prices and caution ahead of the US Federal Reserve’s policy decision overshadowed supportive global cues.
The Nifty 50 settled at 22,749.75, down 3.45 points, or 0.02%, while the BSE Sensex shed 8 points, or 0.01%, to close at 73,598.67.
Broader markets, however, outperformed the benchmark indices, with the Nifty Smallcap 100 settling 2.69% higher and the Nifty Midcap 100 gaining 1%.
The India VIX, the market’s volatility gauge, eased 3.65% to 16.53.
Sectoral performance remained mixed, with buying interest in pharmaceuticals, media, automobiles, chemicals and realty offsetting losses in cement and IT stocks. The Nifty Auto, Healthcare, Pharma, Realty, Consumer Durables and Chemical indices each ended with gains of over 1%.
Market breadth on the NSE remained positive, with 2,455 of the 3,665 stocks traded closing in the green, while 1,103 ended lower. The remaining 107 stocks were unchanged.
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Here are today’s top gainers on the Nifty
Here are today’s top gainers on the Sensex
Here are today’s top losers on the Nifty
Here are today’s top losers on the Sensex
The Nifty index managed to close above its 20 DMA and 200 WMA on the daily chart after briefly slipping below these key technical levels, indicating buying support at lower levels. However, selling pressure is visible near the 22,800 resistance zone.
The overall setup suggests a sideways to mildly positive outlook in the short term, according to Vatsal Bhuva, Technical Analyst at LKP Securities. On the downside, 22,600 remains an immediate support, while 22,800 is the key hurdle. “A sustained move above 22,800 could open the door for a test of 23,000. Hence, traders should adopt a level-based trading strategy," said Bhuva.
Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here
