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What is the story about?
The equity benchmark indices BSE Sensex and NSE Nifty ended the session in a narrow range on Tuesday (December 30), with benchmark indices largely unchanged as sectoral moves offset broader weakness. The Sensex slipped 20 points to close at 84,675, while the Nifty declined 3 points to settle at 25,939, holding on to levels above 25,900 through the day.
Banking stocks outperformed the broader market, led by gains in PSU banks amid buying interest ahead of quarterly earnings data. The Nifty Bank index added 239 points to close at 59,171. In contrast, the midcap index declined 87 points to 59,914, reflecting pressure in the broader market. Market breadth remained negative, with the advance-decline ratio at 3:4.
Auto and metal stocks provided support in an otherwise weak market. The Nifty Auto index rose nearly 2% ahead of monthly wholesales data, while the metals index emerged as the top-performing sector, gaining 2% in line with higher global metal prices. Midcap metal stocks such as SAIL, NALCO, Jindal Stainless, NMDC and JSPL rose between 3% and 5%.
Also Read: Nifty Rebalancing Today: Here are the five stocks with the highest potential inflows and outflows
Among individual stocks, Eternal was among the top losers on the Nifty, falling 2% after sources indicated the resignation of Blinkit’s CFO. Hospital stocks also came under pressure, with Max Healthcare declining more than 2%. IndiGo fell by over 1% after the company announced an increase in pilot allowance.
Shriram Finance gained 3% following a rating upgrade after its deal with MUFG. Hero MotoCorp snapped a three-day losing streak, rising on expectations of healthy December sales. Vodafone Idea ended with minor gains ahead of a cabinet meeting scheduled for tomorrow.
Several stocks declined after exiting the futures and options segment, including Titagarh Rail Systems, NCC, HFCL and Cyient, which fell up to 3%. EMS-related stocks remained weak, with Amber Enterprises dropping 4% and Dixon Technologies extending losses for a seventh consecutive session. Defence stocks extended Monday’s losses, with Mazagon Dock emerging as the top laggard in the space.
Also Read: Four defence stocks that Motilal Oswal recommends to 'buy' for up to 35% upside
On the positive side, Timex Group India recovered Monday’s losses to end the session up 7%. Indo Count Industries surged 15% on a positive brokerage note, while Nazara Technologies rose 5%, extending its gaining streak after the overhang of a mutual fund stake sale eased. PB Fintech declined 2% amid reports that IRDAI will soon issue a consultation paper on commissions.
Banking stocks outperformed the broader market, led by gains in PSU banks amid buying interest ahead of quarterly earnings data. The Nifty Bank index added 239 points to close at 59,171. In contrast, the midcap index declined 87 points to 59,914, reflecting pressure in the broader market. Market breadth remained negative, with the advance-decline ratio at 3:4.
Auto and metal stocks provided support in an otherwise weak market. The Nifty Auto index rose nearly 2% ahead of monthly wholesales data, while the metals index emerged as the top-performing sector, gaining 2% in line with higher global metal prices. Midcap metal stocks such as SAIL, NALCO, Jindal Stainless, NMDC and JSPL rose between 3% and 5%.
Also Read: Nifty Rebalancing Today: Here are the five stocks with the highest potential inflows and outflows
Among individual stocks, Eternal was among the top losers on the Nifty, falling 2% after sources indicated the resignation of Blinkit’s CFO. Hospital stocks also came under pressure, with Max Healthcare declining more than 2%. IndiGo fell by over 1% after the company announced an increase in pilot allowance.
Shriram Finance gained 3% following a rating upgrade after its deal with MUFG. Hero MotoCorp snapped a three-day losing streak, rising on expectations of healthy December sales. Vodafone Idea ended with minor gains ahead of a cabinet meeting scheduled for tomorrow.
Several stocks declined after exiting the futures and options segment, including Titagarh Rail Systems, NCC, HFCL and Cyient, which fell up to 3%. EMS-related stocks remained weak, with Amber Enterprises dropping 4% and Dixon Technologies extending losses for a seventh consecutive session. Defence stocks extended Monday’s losses, with Mazagon Dock emerging as the top laggard in the space.
Also Read: Four defence stocks that Motilal Oswal recommends to 'buy' for up to 35% upside
On the positive side, Timex Group India recovered Monday’s losses to end the session up 7%. Indo Count Industries surged 15% on a positive brokerage note, while Nazara Technologies rose 5%, extending its gaining streak after the overhang of a mutual fund stake sale eased. PB Fintech declined 2% amid reports that IRDAI will soon issue a consultation paper on commissions.
