Indian benchmark indices opened flat on Tuesday as investors continued to book profits after Monday’s sharp rally that saw markets touch an all-time high.
The Nifty gained 3.30 points, or 0.01 percent, to 24,839.40, while the BSE Sensex fell 6.56 points, or 0.01 percent, to 81,349.30.
NTPC, Power Grid Corp, Britannia, BPCL, and HUL were among the major gainers on the Nifty, while Hindalco, SBI Life Insurance, HDFC Life, Bajaj Finserv, and UltraTech Cement saw the most largest declines.
Among the sectoral indices, banking, auto, FMCG, media, PSU banking, private banking, realty, consumer durables, and oil and gas sectors advanced, while healthcare, pharmaceuticals, metals, IT, and financial services slipped.
“Despite this, the overall uptrend remains intact, with the index potentially experiencing minor dips or choppy movements before resuming a bullish trend,” said Varun Aggarwal, MD of Profit Idea.
“FIIs who entered the Indian market with long positions ahead of the Budget have been paring them back, which has been a significant factor in holding back the Indian markets. We expect this to continue until the BOJ/Fed events conclude on Wednesday afternoon/night,” said market and banking expert Ajay Bagga.
Global markets were mixed, with Asian indices trading lower and US indices showing varied results. The Dow Jones fell by 0.12 percent to close at 40,539.93, the S&P 500 gained 0.08 percent to end at 5,463.54, and the Nasdaq Composite rose 0.07 percent to 17,370.20.
Tesla and McDonald’s saw significant gains, while Coinbase and Riot Platforms declined. Crude oil prices hovered near a seven-week low amid concerns over demand, particularly from China. The US dollar index rose by 0.18 percent to 104.56, awaiting global central bank policy decisions.
(With ANI input)
