Closing Bells: Indian Benchmark Indices Close Nearly Flat; Negative Bias

The Indian benchmark indices have closed the day nearly flat, with a slight bias towards the red. The S&P Bombay Stock Exchange (BSE) Sensex closed well under the 38,000 levels, while the National Stock Exchange (NSE) Nifty50 folded the day under 11,250 points. The markets were volatile throughout the day and saw financial stocks drag down the cues. 

The S&P BSE Sensex closed Tuesday at 37,973.22 levels. It lost 8.41 points or 0.022% before it ended today’s trading session. Only ten of the thirty Sensex stocks went on to close the day in the green, while the remaining twenty stocks closed in the negative terrain, with the state-owned ONGC emerging as the most significant loser; its share price fell by 3.82%.

This was followed by IndusInd Bank, PowerGrid, Axis Bank, and HCL Tech. Their share prices tanked by 3.37%, 2.89%, 2.82%, and 2.69% respectively. The index received the much-needed support from UltraTech Cement, TCS, Tata Steel, and Titan Company as their share prices managed to add 3.47%, 2.55%, 2.51%, and 2.48% respectively. 

Also Read: Closing Bells: Indian Benchmark Indices Close Friday Over 2.25% Higher

The NSE Nifty 50 closed the day 0.046% or 5.15 points lower; it managed to end the day at 11,222.40 points. Only sixteen of the fifty Nifty stocks folded in the favourable terrain, while the remaining thirty-four of them closed on a losing note. Hindalco Inds emerged as the top gainer in the Nifty index as its share price advanced by a massive 5.19%. 

Only three of the eleven sectoral indices on the NSE managed to add points over the day. The NSE Nifty Metal index gained the most, as it surged by 1.96%, followed by the Nifty Auto and Nifty IT. The NSE Nifty PSU Bank dropped the most. India VIX, the volatility gauge, zoomed on the back of volatile markets. It saw an increase of 0.20 points or 1.03% to close Tuesday at 19.78 levels.

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in.