Indian shares ended a choppy session on a flat note Tuesday, even as small and mid-cap stocks witnessed significant selling pressure after the recent rally.
The benchmark S&P BSE Sensex edged up 94.05 points, or 0.14 percent, to 67,221.13, while the broader NSE Nifty index ended down 3.15 points at 19,993.20.
The BSE-Midcap and BSE-Smallcap indexes plunged 3 percent and 4 percent, respectively on concerns over valuations after seeing robust gains so far this year.
IT and pharma stocks topped the gainers list, with Dr Reddy’s Laboratories, Infosys and TCS rising between 1.4 percent and 2.6 percent.
Larsen & Toubro advanced 1.9 percent after raising its share buyback price.
On the flip side, Coal India, Adani Enterprises, Power Grid Corp, NTPC and BPCL lost 3-4 percent.
Global cues were mixed as investors looked ahead to the release of key U.S. inflation and other macroeconomic indicators this week for directional cues.
The highly anticipated U.S. consumer price inflation report is due on Wednesday, with a surprise upside in inflation likely to spoil the market mood and boost the appeal for the U.S. dollar.
Market Analysis
Sensex, Nifty End On Flat Note; Small And Midcap Stocks Slump
2023-09-12 10:30:50
