Indian Benchmark Indices Close Nearly Flat, But in Red

The Indian benchmark indices erased the gains that they recorded in the morning session to wrap up the day on a flat note but in the red. The markets were volatile today on the back of the Prime Minister’s speech addressing the nation scheduled at 4 p.m. on Tuesday. 

The S&P BSE Sensex ended the day at 34,915.80 points, losing 0.13% or 45.72 points. Among the 30 stocks comprising the Sensex index, 15 of them dropped while 14 of them ended in the green while one stock closed nearly flat. The losses in the index were led by the shares of Power Grid and Sun Pharma as they tanked 1.88% and 1.84%, respectively. 

The Sensex index received the much-needed support from the shares of Maruti Suzuki (up by 2.77%) and Nestle India (up by 2.74%). Among the broader indices, the S&P BSE SmallCap index lost 0.75% while the S&P BSE Midcap index plummeted 0.14%. Over June, the BSE Sensex gained 1,612.28‬ points or 4.84%. 

Also Read: Closing Bells: Both Sensex and Nifty End the Day Nearly 1% Higher

The NSE Nifty 50 ended June at 10,302.10 points. On Tuesday, the index shed 0.1% or 10.30 points. Of the 50 Nifty stocks, 21 of them closed in the positive territory while 28 of them collapsed whereas one stock closed nearly flat. The shares of BPCL and Indian Corp Oil led the losses in the index as they lost 2.44% and 2.01% respectively. 

The Nifty index received support from the shares of Shree Cements and Maruti Suzuki as they shot up 3.17% and 2.81% respectively. The Nifty index zoomed 4.61% or 475.95 points over June 2020. Among the sectoral indices, the Nifty PSU Bank collapsed the most. The Nifty media and pharma stocks followed it.

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

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