Nifty dips below 26,200, Sensex flat as IT stocks snap four-day rally, banks drag

Indian markets closed flat on Tuesday after a volatile session, with the Nifty slipping below the 26,200 mark.

The Sensex fell 43 points to 85,525, while the Nifty managed a marginal gain of 5 points to 26,177.

Sectorally, Nifty Bank eased 4 points to 59,300, whereas the Midcap Index inched up 1 point to 60,816.

IT stocks snapped a four-day winning streak, with Coforge, Infosys and Persistent Systems emerging as top losers. Coforge fell nearly 5% ahead of a board meeting to consider a fund raise via QIP on December 26.

Also Read: Here's what led to a sharp drop in Coforge shares on Tuesday

Coal India continued its winning streak for a fifth consecutive session, rising 4% to emerge as the top Nifty gainer. Ambuja and Orient gained nearly 2% and 4% respectively, while ACC slipped almost 2% following merger updates. Cholamandalam Investment and Finance Company shrugged off Cobrapost concerns, rising over 6% post-clarification.

Other notable movers included Meesho, which declined nearly 30% over three sessions, Tata Motors PV, which gained over 1% following an announcement to launch five new EV models by FY30, Antony Waste (+7%), Belrise (+6%), and Emcure Pharmaceuticals (+3%) after regulatory approvals. Market breadth favoured advances, with an NSE advance-decline ratio of 3:2.

Also Read: Cholamandalam Share Price: Allegations made by Cobrapost and what analysts make of them