Sensex closes on flat note, Nifty holds 22,500 level

Indian fairness benchmarks closed on a flat notice on Tuesday following sideways buying and selling out there.

At closing, Sensex was down 52 factors or 0.07 per cent, at 73,953 factors and Nifty was up 27 factors or 0.12 per cent, at 22,529 factors.

In Tuesday’s session, Midcap shares outperformed smallcap and largecap shares. The Nifty Midcap 100 index was up 199 factors or 0.38 per cent, at 52,068 factors, whereas the Nifty Smallcap 100 index was down 69 factors or 0.41 per cent, at 16,939 factors.

Among the sector indices, Auto, PSU Bank, Pharma, Metal, Media, and Energy have been main gainers. IT, Fin service, FMCG, Realty, Private Bank, and Consumption have been main losers.

Tata Steel, JSW Steel, Power Grid, Tech Mahindra and NTPC have been prime gainers. Nestle, Maruti Suzuki, IndusInd Bank, ICICI Bank and HUL have been the highest losers.

Rupak De, Senior Technical Analyst, LKP Securities stated, “The index remained throughout the vary of twenty-two,400 and 22,600. Strong put writing at 22,400 and 22,500 would possibly present help to the Nifty. On the upper finish, a decisive transfer above 22,600 would possibly induce a rally in the direction of 22,800 within the close to time period.”

“Till then, the index would possibly proceed consolidating so long as it stays throughout the vary of twenty-two,400 to 22,600,” he added.