Mumbai, September 1: The Indian stock market closed nearly flat during Tuesday’s trading session. By the end of the day, the Sensex fell by 12.99 points, or 0.02%, to settle at 76,944.28, while the Nifty declined by 24.60 points, or 0.10%, closing at 24,055.80.
During the session, IT and FMCG stocks provided support to the market’s upward movement. The Nifty IT index rose by 0.98%, and the Nifty FMCG index increased by 0.94%, making them the top gainers. Other sectors like Nifty Oil & Gas, Nifty Infra, Nifty Media, and Nifty Commodities also saw slight gains of 0.35%, 0.33%, 0.26%, and 0.14%, respectively.
Conversely, the Nifty Healthcare index fell by 1.60%, Nifty Pharma by 1.45%, Nifty Realty by 1.42%, Nifty Consumer Durables by 1.40%, Nifty Auto by 1.22%, and Nifty PSU Bank by 1.21%, all closing in the red.
Midcap and small-cap stocks experienced significant selling pressure compared to large-cap stocks. The Nifty Midcap 100 index dropped by 890.25 points, or 1.39%, to close at 63,334.50, while the Nifty Smallcap 100 index fell by 45.40 points, or 0.23%, ending at 19,886.25.
Within the Sensex pack, ITC, HCL Tech, Infosys, Bharti Airtel, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank, Power Grid, TCS, and Eternal were gainers. In contrast, Maruti Suzuki, SBI, Indigo, Bajaj Finserv, M&M, Axis Bank, Titan, Sun Pharma, Bajaj Finance, Trent, L&T, ICICI Bank, Ultratech Cement, and BEL were among the losers.
Market experts noted that the market is balancing India’s robust growth amid rising global uncertainties. Better-than-expected GDP growth reflects strong domestic demand and a resilient economy. However, escalating tensions in the Middle East and the Federal Reserve’s hawkish stance have reignited concerns about inflation and the potential for prolonged high-interest rates.
They further stated that the rise in U.S. bond yields and renewed outflows of foreign capital have kept investors cautious. Financial stocks are under the most pressure, while safe investments in the FMCG and IT sectors continue. In the near future, market movements are likely to be influenced by changes in the energy market, expectations related to global monetary policy, and capital flows into emerging economies.
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