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.
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
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