Mumbai, Dec 30 (IANS) Indian benchmark indices ended Tuesday’s session almost flat, but with a slight negative tone, as gains in PSU banks, metal and auto stocks were offset by selling pressure in IT, FMCG, realty and pharma shares.
The Sensex closed at 84,675.08, slipping 20.46 points or 0.02 per cent, while the Nifty settled marginally lower at 25,938.85, down 3.25 points or 0.01 per cent.
“The Nifty has also slipped below the 21 EMA, reinforcing the short-term downtrend. Immediate support is placed in the 25,850–25,870 zone,” market watchers stated.
“A decisive break below this level could intensify bearish sentiment, while resistance is placed at 26,000," analysts mentioned.
Markets witnessed a cautious mood as investors balanced sector-specific buying against profit booking in select heavyweights.
On the Sensex, stocks such as Eternal, Infosys, Asian Paints, UltraTech Cement and Bajaj Finance ended among the top losers, weighing on the index.
On the other hand, M&M, Tata Steel, Bajaj Finserv and Axis Bank provided support and closed higher.
The broader market also saw mild weakness. The Nifty Midcap 100 index ended lower by 0.15 per cent, while the Nifty Smallcap 100 declined 0.28 per cent.
Sector-wise, real estate, IT and pharma stocks remained under pressure. The Nifty Realty index fell 0.84 per cent, while the Nifty IT and Pharma indices declined 0.74 per cent and 0.17 per cent, respectively.
In contrast, strong buying was seen in PSU bank, metal and auto stocks. The Nifty PSU Bank index jumped 1.69 per cent, the Nifty Metal index rose 2.03 per cent, and the Nifty Auto index gained 1.08 per cent.
Analysts said that the market ended the day on a flat note as investors preferred selective buying, with sectoral trends driving movement rather than broad-based participation.
“Fresh buying at lower levels, along with short covering in banking, auto, and metal stocks following the expiry of monthly derivative contracts, helped the Nifty recoup most of its intraday losses and close the session largely flat,” market watchers mentioned.
--IANS
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