MUMBAI– Indian equity benchmarks closed on a mixed note on Tuesday as losses in information technology stocks weighed on the market, while buying in financial, FMCG, and metal shares helped limit the downside.
Investor sentiment remained cautious amid the weekly expiry of Nifty derivatives.
The Sensex snapped its two-day winning streak and ended marginally lower, slipping 0.05 percent to close at 85,524.84. In contrast, the Nifty extended its gains for a third straight session, edging up 0.02 percent, or 4.75 points, to settle at 26,177.15.
Market analysts said the Nifty continues to trade above a key support zone of 26,000 to 26,100, which is acting as a strong base. Sustaining levels above this range could keep the short-term outlook positive, they said.
On the BSE, ITC, UltraTech Cement, and Tata Steel emerged as the top gainers, supported by buying interest in FMCG and metal stocks. Meanwhile, losses in IT majors such as Infosys and Tech Mahindra, along with declines in Bharti Airtel, dragged the index lower.
A similar pattern was seen on the NSE, where Coal India, Shriram Finance, and ITC finished among the leading gainers, while selling pressure in Infosys and Bharti Airtel capped overall gains.
Broader markets ended mixed. The Nifty SmallCap 100 index rose 0.37 percent, reflecting selective buying in smaller stocks, while the Nifty MidCap 100 index closed nearly unchanged.
Among sectoral indices, IT was the biggest laggard, falling 0.80 percent due to continued weakness in technology stocks. The media index led sectoral gains, rising 0.84 percent, while metal and FMCG stocks also ended higher, helping stabilize the broader market.
The Indian rupee ended flat for the second consecutive session, as year-end rebalancing flows offset intraday weakness.
Market participants said the dollar-rupee pair is expected to consolidate in the near term, with major support seen below current levels and limited upside unless a clear breakout occurs. (Source: IANS)
