The Sensex and Nifty ended a mixed session on Tuesday, with the BSE benchmark down 69.86 points, or 0.09 per cent, at 76,765.92.
The Nifty 50 fell 10.60 points, or 0.04 per cent, to close at 23,985.35.
Bank Nifty dropped 331.60 points, or 0.58 per cent, to settle at 56,755.60.
IT stocks jumped through the day, with the Nifty IT index gaining 3.32 per cent on strength from TCS and Tech Mahindra.
Hindustan Unilever weighed heavily on the index, falling nearly 7 per cent after its quarterly earnings missed expectations.
Coal India dropped more than 4 per cent on weaker-than-expected quarterly profit, citing lower production volumes and higher operating costs, and Bharat Electronics was also among the top losers.
The Nifty Midcap index edged up 0.08 per cent, while the Nifty Smallcap index slipped 0.22 per cent.
The mixed close followed a sharp rally the previous day, when the indices snapped a five-day losing streak on falling crude oil prices.
Analysts tracking the session noted that the muted overall movement in the headline indices masked sharper swings at the sector and stock level, with earnings reactions driving much of Tuesday’s price action.
Tuesday’s session unfolded against a backdrop of mixed global cues, with several Asian markets, including Japan’s Nikkei, South Korea’s Kospi and China’s Shanghai Composite, also trading lower during the day.
Market participants said the earnings season remained a key driver of stock-specific moves this week, with several large companies due to report their quarterly results in the coming days.
The day also marked the monthly expiry for Nifty futures and options contracts, which analysts said contributed to range-bound trading through large parts of the session.
Foreign institutional investors have been closely watched in recent sessions, with their buying or selling activity often cited as a factor behind the market’s day-to-day direction.
(Image: Niyantha Shekhar (CC BY 2.0))
