The benchmark equity indices closed Tuesday’s trading session in negative territory. The NSE Nifty 50 ended down by 9.85 points or 0.05% to settle at 19,802.00, while the BSE Sensex ended flat, slight down by 5.43 points or 0.01% to 66,017.81.Bank Nifty index gained over 127.90 points or 0.29% to settle at 43,577.50.
The broader indices ended largely in positive territory, with gain led by Smallcap and Midcap stocks. Oil & Gas and Metal stocks gained among the other sectoral indices while Pharma and Healthcare stocks shed.
“The declining oil prices and ease in US bond yields are the key positives for a broader recovery for the market. The European market was mixed ahead of the ECB minutes and the release of manufacturing index data,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that, that range-bound momentum continued on main indexes as the market looked for new triggers for a decisive move beyond the 19800 level. However, broad markets’ undercurrent is strong and rapid buying has emerged in the mid- and small-cap counters as bargaining strategy arose on recent underperforming stocks.
The Indian Volatility Index (India VIX) closed down by 4.63 %.