Indian shares fluctuated before ending on a flat note Tuesday despite mostly positive global cues.
Global sentiment was underpinned after China’s Politburo – the top decision-making body of the Communist Party – promised more policy measures aimed at the country’s biggest growth engines – real estate and private consumption, both of which have deteriorated substantially over the past three years.
Closer home, investors exercised caution at higher levels ahead of the Federal Reserve’s monetary policy decision due on Wednesday.
Profit booking after recent strong gains as well as higher oil prices on signs of tight supply and China stimulus optimism also weighed on sentiment.
The benchmark S&P BSE Sensex ended down 29.07 points at 66,355.71 while the broader NSE Nifty index finished marginally higher at 19,680.60.
Metal stocks topped the gainers list, with Tata Steel, JSW Steel and Hindalco rallying 3-4 percent as metal prices advanced after China’s pledge to step up support for its sputtering economy.
On the losing side, Asian Paints slumped 4.2 percent after the release of its June quarter earnings.
ITC fell 2.1 percent to extend losses from the previous session after the announcement of hotel business demerger.
Kotak Mahindra Bank, Britannia Industries and Larsen & Toubro all fell over 1 percent.
Sensex, Nifty End Choppy Session Narrowly Mixed
2023-07-25 10:29:02
