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Market fails to hold on to early gains, ends flat in volatile session

At close, the Sensex was down 53.49 points or 0.06% at 82,391.72, and the Nifty 50 was up just 1.05 points at 25,104.25.

Market fails to hold on to early gains, ends flat in volatile session

Photo: IANS

Stock market failed to hold on to early gains on Tuesday and ended flat in a volatile session, with the Nifty 50 managing to eke out gains for a fifth day to hold on to the 25,100 mark.

At close, the Sensex was down 53.49 points or 0.06% at 82,391.72, and the Nifty 50 was up just 1.05 points at 25,104.25.

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The broader markets mirrored main indices, with BSE Midcap ending flat while BSE smallcap index up 0.3%.

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On the Nifty50, nearly 25 stocks ended higher. Shares of Grasim Industries were up 3.66%, Tech Mahindra up by 2.14% and Dr. Reddy’s Laboratories was up by 2.10% ending as the top gainers.

The top losers in the index were Trent down by 1.65%, Maruti Suzuki India down by 1.31%, and Bajaj Finance down by 1.22%.

Among the sectors, indices ended mixed. Nifty Realty fell 1.14%, ending as the top sectoral loser.

Nifty Bank, PSU Bank, and Private Bank indices dropped 0.37%, 0.52% and 0.17%, respectively while the Nifty Financial Services fell 0.47%.

Major banking counters such as HDFC Bank, ICICI Bank, and State Bank of India registered declines in the range of 0.2% to 0.7%.

On the other hand, a few names like the Nifty IT, up by 1.67%, and Media up by 1.09% ended with healthy gains.

Over 130 stocks on the BSE touched their 52-week highs. These included Ujjivan Small, Anupam Rasayan, Eris Life, Ramco Cements, Dalmia Bharat, Fortis Healthcare, Bharat Electronics, Welspun Corp, LT Finance, City Union Bank, Muthoot Finance, Manappuram Finance, AstraZeneca Pharma, Laurus Labs, Max Financial, Abbott India, MCX India, SRF, SBI Cards, among others.

Grasim Industries Ltd and UltraTech Cement Ltd rallied sharply in trade after international brokerage Morgan Stanley reiterated its bullishness on the two firms.

Investors’ focus is now on the US-China trade negotiations and inflation prints of the US and India, scheduled to be released this week.

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