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Indices end almost flat amid volatility ahead of US inflation data

Nifty 50 opened at 22,334.45 against the previous close of 22,332.65 and touched its intraday high and low of 22,452.55 and 22,256 respectively, during the session, finally closed 3 points up at 22,335.70.

Indices end almost flat amid volatility ahead of US inflation data

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Market benchmarks Nifty 50 and Sensex managed to end almost flat while most of their components ended with losses on Tuesday.

The market indices ended on a mixed note with BSE Sensex rising 165.32 points or 0.22 per cent at 73,667.96, while the Nifty gained three points or 0.01 per cent at 22,335.70.

Nifty 50 opened at 22,334.45 against the previous close of 22,332.65 and touched its intraday high and low of 22,452.55 and 22,256 respectively, during the session, finally closed 3 points up at 22,335.70.

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While the Sensex opened at 73,516.42 against the previous close of 73,502.64 and touched its intraday high and low of 74,004.16 and 73,342.12 respectively, and settled 165 points, or 0.22 per cent higher at 73,667.96 with 22 stocks in the red.

In the sector-wise analysis, except IT all other indices ended in the red with the realty index down nearly 3.5 per cent.

PSU Bank and Media indices were down two per cent each, while capital goods, FMCG, healthcare, metal and power indices fell one per cent each.

The Bank Nifty has tested the 20-day moving average of 46900 and witnessed a decent pullback to close in the off the intraday lows though on a negative note down ~45 points.

BSE Midcap index was down 1.3 per cent and Smallcap index shed 2 per cent. The BSE Smallcap index is down over 5 per cent in March so far following a loss of about a per cent in February on concerns over inflated valuations.

A volume spike of more than 200 per cent was seen in Aditya Birla Capital, Indiamart Intermesh, Oracle Financial Services Software. Also, a long build-up was seen in Balkrishna Industries, Aditya Birla Capital, Indiamart Intermesh, while a short build-up was seen in DLF, NALCO and Bharat Electronics.

Stocks including SBI Cards and Payment Services, Sterlite Technologies, Alkyl Amines Chemicals, KRBL and Sumitomo Chemical India, hit their 52-week lows in intraday trade on the BSE.

TCS, Oracle Fin Serv, Interglobe Aviation, Quick Heal Technologies, eMudhra, Hercules Hoists, Cigniti Technologies, Gujarat Themis, Waaree Renewable, among others, touched their 52-week high.

Global markets were mixed ahead of the US inflation data which will influence the policy move of the US Federal Reserve.

The US consumer price data may show a monthly increase of 0.4 per cent and 3.1 per cent on an annual basis, reports stated.

Notably, the investors anticipate at least three interest rate cuts by the Fed this year, most likely starting in June, a stronger-than-expected inflation print may shake market sentiment across the globe.

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