Indian shares failed to sustain early gains and ended Tuesday’s session on a flat note, with private banks and metal stocks underperforming.
Higher levels attracted profit taking as investor optimism on declining daily coronavirus infections in the country was offset by data showing that India’s factory activity growth slowed significantly last month.
On the COVID-19 front, India reported the lowest daily new coronavirus infections in nearly two months with 127,510 cases, the health ministry said.
The benchmark 30-share BSE Sensex ended the session down 2.56 points at 51,934.88, snapping a four-day winning streak.
The broader NSE Nifty index ended down 7.95 points at 15,574.85, after climbing 5 percent in the past seven trading sessions to a record high.
UltraTech, Asian Paints, ICICI Bank, Tata Steel and JSW Steel all fell around 2 percent, while Bajaj Finance, ONGC and Adani Ports rallied 3-4 percent. SBI gained about 2 percent and HDFC added 1 percent.
PNB Housing Finance was locked in the 20 percent upper circuit for the second day running after its board approved raising Rs. 4,000 crore from the entities of U.S.-based The Carlyle Group.
Narayana Hrudayalaya shares soared more than 12 percent after the company reported five-time jump in quarterly profit.
Market Analysis
Sensex, Nifty End Choppy Session Flat
2021-06-01 10:49:40
