Markets end flat amid volatility; Nifty holds above 24,300

Stocks failed to sustain intraday gains on Tuesday, ending largely unchanged in a range bound trading session. The Nifty 50 managed to hold above the 24,300 mark.

At close, the Sensex rose 70.01 points or 0.09% to 80,288.38, while the Nifty edged up 7.45 points or 0.03% to settle at 24,335.95.

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Broader market indices—the BSE Midcap and Smallcap—ended marginally higher, in line with the benchmark indices.

On the BSE, over 60 stocks touched their 52-week highs, including Mazagon Dock, Solar Industries, Max Financial, Coromandel International, and ICICI Bank.

Among sectoral indices, Nifty IT led the gains, rising 1.23% to close at 35,920 points. Other gainers included Nifty Consumer Durables and Nifty Oil & Gas, which ended with gains of up to 0.45%.

On the downside, Nifty Pharma was the worst performer, declining by 1%. It was followed by losses in Nifty Metal, Media, Realty, Auto, and FMCG—each falling up to 0.90%.

Defence stocks rallied with gains of up to 15%, driven by expectations of rising demand for military equipment and a potential boost in defence spending. Stocks such as Hindustan Aeronautics (HAL), Mazagon Dock, and Garden Reach Shipbuilders (GRSE) saw strong gains.

Reliance Industries added another 3% following upbeat quarterly earnings, while UCO Bank jumped 4% after reporting a net profit of ₹652 crore for the March quarter.

In contrast, shares of Tata Technologies fell 6% to ₹662.25 after ICICI Securities issued a ‘sell’ rating.

Globally, European markets traded flat, while Asian stocks posted gains as investors awaited a series of corporate earnings and economic data releases, expected to provide early insights into the effects of global trade tensions.