Equity benchmark indices continued to trade flat in Tuesday’s morning session with the Sensex gaining 9 points at 35,362 levels. The Nifty was trading 7 points down to trade at 10,621 levels, struggling to hold its key level of 10,600.
The gain in Sensex can be attributed to Infosys, Reliance, L&T, Maruti, Yes Bank, and Kotak Mahindra Bank. However, the rally was capped by losses in shares of Indian Oil, M&M, Asian Paints, Bharti Airtel, and Hindustan Petroleum.
Further, losses in metal, pharma, and media stocks kept the Nifty in a negative territory. Nifty Metal and Pharma indices were leading the loss of sectoral indices by declining 2% and 1%, respectively. However, a 1% growth in the Nifty Realty index saved the Nifty from major losses.
Incidentally, India Vix, a Volatility Index which measures market’s expectation of volatility over the near term, was trading 7% down.
Further, the market breadth on the NSE was marginally positive with 824 stocks advancing, 760 shares declining, and 471 shares remaining unchanged.
Meanwhile, on the currency front, the Indian rupee extended its losses for the second consecutive trading session on Tuesday. The domestic currency opened 4 paise down at 70.91 against the American currency vs. its previous close of 70.87 per dollar.
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