Mumbai (Maharashtra) [India], July 22 (ANI): Indian stock markets ended flat in a volatile session on Tuesday, as many investors opted to book profits amid ongoing quarterly results volatility, and investors remained cautious ahead of uncertainty surrounding the India-US trade agreement.
“This movement reflects the caution in the market, with many investors opting to book profits amid ongoing quarterly result volatility,” according to Ashika Institutional Equities.
At the end of the trading session, the Sensex was down 13.53 points or 0.02 per cent at 82,186.81, and the Nifty was down 29.80 points or 0.12 per cent at 25,060.90.
All sectoral indices ended in red, highlighting broad-based weakness. Notably, Nifty Media and Nifty PSU Bank were among the worst hit.
The broader market also mirrored this bearish sentiment, with Nifty Midcap and Nifty Smallcap 100 indices closing in negative territory. The market breadth remained weak — in the Nifty 500 universe, 317 stocks ended lower, pushing the advance/decline ratio firmly in favour of the bears.
During today’s trading session, 3,157 stocks traded, out of which 1,489 stocks advanced while 1,081 stocks witnessed downside. A total of 587 stocks were unchanged for the day.
Eternal, HDFC Life, Titan Company, Hindalco Industries, Bharat Electronics were among major gainers on the Nifty, while losers were Shriram Finance, Jio Financial, Eicher Motors, Adani Ports, and Tata Motors.
“The broader market undertone remains bullish, and sectoral investments are likely to take place. Considering these aspects, we can expect the Nifty to gather support between 24,950 and 24,800, and face resistance near 25,150 and 25,270 in the upcoming session,” according to VLA Ambala, SEBI Registered Research Analyst.
The much-awaited Free Trade Agreement would be signed during Prime Minister Narendra Modi’s visit to the UK this week and this could provide positive signals to Indian stock indices. (ANI)
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