Sensex and Nifty end flat after volatile session; metal, energy actions shine

Stock Market Highlights: After three consecutive days of strong gains, the markets took a break on Tuesday. Benchmarks surged higher in intraday trade before ending flat with a positive bias.

The front-line S&P BSE Sensex hovered in a band of 530 points during the day. It eventually finished at 53,177, up 16 points or 0.03%.
M&M, Tech M, Dr Reddy’s Labs, Reliance Industries, HCL Tech and Tata Steel were the top gainers in the 30-pack index, up 1-3%. Meanwhile, Titan Company, Asian Paints, Bajaj Finserv, Kotak Bank, Bajaj Finance and ICICI Bank lagged, down 3.5%.

On the NSE, the Nifty50 closed at 15,850, up 18 points or 0.11%. Also, in the broader markets, the Nifty MidCap added 0.3%, but the Nifty SmallCap fell an equal percentage.

Among major sector indices, the Nifty Metal Index rose around 2%, while the Nifty Private Bank Index fell 0.8%.

Shares of liquor companies have fallen between 6% and 33.5% so far in calendar year 2022 (CY22), as the pinch in commodity prices and weak demand hit breweries and distilleries. Analysts believe the worst could be behind the sector with a recovery in out-of-home (OOH) consumption, and some state governments are cutting taxes, leaving related companies room to pass cost pressure on to consumers. READ MORE

Journalist :: Zomato

Shares of Zomato extended their decline as they shed 8% on BSE on Tuesday. The stock fell 14.4% in two days, losing $1 billion in market capitalization, after announcing the acquisition of fast-trading firm Blinkit. READ MORE

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