Indian stock markets continued to trade flat in mid-day trading on Tuesday, with the Sensex and Nifty showing marginal declines amid mixed global cues and ongoing investor caution. As of 12.32 pm, the Sensex stood at 84,252.39, down 47.39 points or 0.06 per cent from the previous close. The Nifty50 was trading at 25,790.45, registering a decline of 20.40 points or 0.08 per cent.
Market breadth remained positive, with 2,305 advances against 1,523 declines on the BSE. 211 stocks hit their 52-week highs, while 31 touched their 52-week lows. The Nifty Next 50 and Nifty Midcap Select indices showed slight gains, up 0.04 per cent and 0.49 per cent respectively.
Tech stocks continued to lead the gains, with Tech Mahindra emerging as the top gainer on the NSE, surging 2.87 per cent. Other notable gainers included Mahindra & Mahindra (2.25 per cent), Infosys (1.37 per cent), Wipro (1.23 per cent), and State Bank of India (1.17 per cent).
On the downside, Hindustan Unilever led the losses, falling 1.62 per cent, followed by Bajaj Auto (-1.60 per cent), Asian Paints (-1.59 per cent), BPCL (-1.38 per cent), and IndusInd Bank (-1.35 per cent).
The banking and financial services sectors showed minimal movement, with the Nifty Bank index down 0.03 per cent and the Nifty Financial Services index declining 0.05 per cent.
Market activity remained robust, with 3,959 stocks traded on the BSE. 324 stocks hit the upper circuit, while 210 touched the lower circuit limits.
Investors continued to digest Federal Reserve Chair Jerome Powell’s recent comments and monitor geopolitical developments. The cautious sentiment was further influenced by domestic factors, including the expanding fiscal deficit and anticipation of upcoming economic data releases.
Global cues remained mixed, with U.S. stocks having rebounded on Monday despite initial concerns over the Fed’s stance on interest rates. Oil prices held steady, while precious metals faced ongoing pressure.
Analysts maintain a watchful stance, emphasizing the importance of upcoming data releases, including U.S. non-farm payrolls and GST figures, in determining near-term market direction. As the trading day progresses, market participants await further cues that could potentially shift sentiment in either direction.