Market ends flat led by gains in auto, financials & IT

Benchmark indices ended flat on Wednesday after a range-bound day. The move was led by gains in auto, financials, IT and realty stocks.

The Nifty50 index recovered from the day’s low of 25,121 to close above 25,200.

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At close, Sensex was up 63.57 points or 0.08% at 82,634.48, and the Nifty was up 16.25 points or 0.06% at 25,212.05.

Broader market indices performed in line with the main indices, as Nifty Mid and Smallcap ended flat. BSE Midcap ended 0.10% higher while the BSE Smallcap index ended with a decent gain of 0.28%.

The overall market capitalisation of BSE-listed firms stood slightly above ₹461 lakh crore, compared to ₹460.3 lakh crore in the previous session.

Among the sectors, Media index clocked a healthy gain of 1.31%, Nifty IT was up by 0.63%, Realty up by 0.50%, FMCG was up by 0.45%, and Auto up by 0.44%.

In terms of financial space, the Nifty Bank index rose 0.28%, while the Private Bank index was up 0.03% remaining almost flat. Nifty PSU Bank index rose 1.81%.

Stocks, such as Punjab National Bank, Punjab & Sind Bank, and Canara Bank, rose 2%. Shares of the State Bank of India gained over 2% after the lender said it will be raising funds via bonds worth up to Rs 20,000 crore in the ongoing fiscal.

Network 18 Media shares rose 12% as June quarter EBITDA jumped 69%.

Cement stocks also performed well with Deccan Cement, Sagar Cements and NCL Industries surged up to 20%. The development came amid the hopes of improved earnings during the June quarter as the southern part of the country saw sharp price hikes.

Some of the top gainers in the Nifty 50 were Mahindra & Mahindra up by 2.38%, Wipro up by 2.18% and Tech Mahindra up by 1.87%.

The top losers on the index were Shriram Finance down by 2.37%, Eternal down by 1.63% and Sun Pharma down by 1.36%.

Further, out of the 4,218 stocks traded on the BSE, 2,338 advanced and 1,718 declined while some 162 stocks remained unchanged.