The Indian stock market remained in positive territory for the seventh consecutive session on Tuesday, though it gave up most of its early gains during a volatile trading session.
The Sensex, which touched an intra-day high of 78,741.69, eventually closed at 78,017.19, rising 32.81 points or 0.04 per cent.
Similarly, the Nifty ended nearly flat at 23,668.65, gaining only 10.30 points or 0.04 per cent. During the session, the index traded within a range of 23,869.60 to 23,627.55.
Despite marginal gains in the indices, market sentiment remained weak, with most stocks experiencing selling pressure.
Out of all traded shares, 1,019 stocks advanced, while 2,868 declined, and 107 remained unchanged.
Sector-wise, the IT sector was the only gainer, while other indices—including auto, capital goods, consumer durables, metal, oil and gas, power, PSU banks, realty, and telecom—declined between 1 per cent and 1.5 per cent.
Among the top gainers on the Nifty were UltraTech Cement, Trent, Bajaj Finserv, Infosys, and Grasim Industries.
On the other hand, IndusInd Bank, Dr Reddy’s Labs, and Coal India were among the major losers.
The broader market also faced selling pressure, with the BSE Midcap index falling by 1 per cent and the BSE Smallcap index dropping 1.6 per cent.
Among sectoral indices, only the Nifty IT index closed in the green, while all others saw declines, with the biggest sectoral losses extending up to 2.16 per cent.
Market experts believe that cautious investor sentiment and profit booking led to the choppy session, while global market trends and upcoming economic data will continue to influence market movements in the coming days.
According to Vikram Kasat, Head-Advisory at PL Capital-Prabhudas Lilladher, the market’s winning streak extended to a seventh straight session, with the Nifty closing above 23,600 and the Sensex surging over 1,000 points.
“Focus now shifts to the upcoming US GDP growth report for the fourth quarter, scheduled for release on March 27, along with any fresh updates on trade tariffs,” he said.
-IANS
