Sensex settles flat at 80,004, auto shares slide

Mumbai (The Uttam Hindu): The Indian stock market ended flat on Tuesday as selling was seen in the auto sector.

Sensex closed at 80,004.0 after falling 105.79 points, or 0.13 per cent, and the Nifty closed at 24,194.50 after falling 27.40 points, or 0.11 per cent.

Nifty Bank fell 16 points or 0.03 per cent to 52,191.50.

Marginal buying was seen in the midcap and smallcap stocks. The Nifty midcap 100 index closed at 55,914.40 after a marginal gain of 13.85 points or 0.02 per cent. Nifty smallcap 100 index closed at 18,265.30 after rising 149.45 points, or 0.83 per cent.

Hrishikesh Yedve, of Asit C. Mehta Investment Intermediates Ltd, said: “Nifty opened with a gap up, then witnessed range bound stabilisation throughout the day before closing on a high note near 24,222 levels. The volatility index India Vix fell by 4.93 per cent to 15.30, indicating a decline in market volatility."

On the sectoral indices, auto, financial services, pharma, energy, private bank, infra, and commodities were major losers. However, IT, PSU bank, FMCG, metal, realty, and media were major gainers.

In the Sensex pack, Ultra Tech Cement, Sun Pharma, NTPC, Tata Motors, Power Grid, M&M, L&T, Axis Bank, and Maruti were the top losers. Asian Paints, Infosys, JSW Steel, TCS, Tata Steel, and IndusInd Bank were top gainers.

On the Bombay Stock Exchange (BSE), 2,288 shares were traded in green and 1,634 in red, whereas, there was no change in 109 shares.

The rupee fluctuated in the range of 84.35 as the dollar remained steady.

Jatin Trivedi of LKP Securities said: "Recovery in crude oil contributed to the currency volatility, and it also witnessed some weakness. Positive momentum in the capital markets provided some support to the rupee, offsetting broader global pressures. The immediate range of the rupee is expected to be between 84.10 and 84.45, wherein market sentiment and dollar index movement will play a key role in driving further action."