The Indian stock market closed flat on Tuesday, influenced by selling pressure in sectors like IT, financial services, pharmaceuticals, PSU banks, metals, and realty.

At the end of the trading day, the Sensex closed at 78,472.87, marking a decline of 67.30 points or 0.09 percent. The Nifty settled at 23,727.65, down 25.80 points or 0.11 percent.

The Nifty Bank index ended at 51,233, losing 84.60 points or 0.16 percent. The Nifty Midcap 100 index fell by 35 points or 0.06 percent to close at 57,057.90. However, the Nifty Smallcap 100 index gained 44.85 points or 0.24 percent, finishing at 18,732.65.

Market experts said that the performance was influenced by weakness in metal and power stocks, while sectors like FMCG and auto saw gains. They added that near-term market trends will depend on Q3 earnings results and the Union Budget, though concerns remain due to factors such as a strong dollar, high bond yields, and uncertainty around interest rate cuts.

On the Bombay Stock Exchange (BSE), 1,980 shares recorded gains, 2,016 ended lower, and 96 remained unchanged. On the sectoral front, most indices closed in the red, with only auto, FMCG, private banks, consumption, and healthcare sectors showing positive movements.

In the Sensex group, stocks like PowerGrid, SBI, Infosys, Titan, IndusInd Bank, UltraTech Cement, Bajaj Finance, Tata Steel, and Maruti were among the top losers. Meanwhile, Tata Motors, ITC, Nestle India, NTPC, TCS, Zomato, Axis Bank, M&M, Kotak Mahindra Bank, and Sun Pharma recorded gains.

Foreign Institutional Investors (FIIs) sold equities worth Rs 168.71 crore on December 23, while Domestic Institutional Investors (DIIs) purchased equities worth Rs 2,227.68 crore on the same day.

In currency trading, the rupee fell by 9 paise, reaching a record low of 85.20 against the US dollar, compared to the previous close of 85.11.

The stock market will remain closed on Wednesday for Christmas, with trading resuming on Thursday.

(IANS)