Stock Market Today: Nifty 50, Sensex snap 2-day winning run on profit booking; tech stocks extend rally

Indian Stock Market: After a sharp rally in the last two trading sessions, Indian markets struggled to maintain momentum in today’s session as trade tensions resurfaced in the headlines, triggered by President-elect Donald Trump’s tariff announcements on imports from China, Mexico, and Canada. These raised concerns over the potential impact on global trade relations, prompting investors to book profits at higher levels.

While there were some positive developments in the Middle East, such as reports that Israel was nearing a ceasefire agreement with the militant group Hezbollah, concerns over escalating tensions between Russia and Ukraine, along with Iran’s plans to expand its nuclear fuel production, have intensified investor fears.

Markets across Asia ended today’s session on a flat note, with India also following suit, as investor sentiment remained subdued amid global uncertainties.

The Nifty 50 ended the session with a modest drop of 0.11%, closing at 24,194 points, while the Sensex also posted a slight loss of 0.13%, settling at 80,004 points.

Likewise, Nifty Midcap 100 index has also ended the session with a slight gain of 0.02% at 55,914 points, while the Nifty Smallcap 100 index managed to post a gain of 0.82% at 18,265. 

Among the sectors, the Nifty IT index ended the session with a gain of 1.07%, also reaching a fresh record high of 44,244 points, as a strong spike in the dollar index kept IT stocks in positive territory. The Nifty FMCG index also closed with a 1% gain, driven by expectations that the BJP-led NDA’s victory in the Maharashtra Assembly election could lead the government to bolster social welfare programs, benefiting rural India.

The political continuity in Maharashtra, a key state for real estate players, has spurred ongoing buying in real estate stocks. Consequently, the Nifty Realty index closed the session with a gain of 0.10%, adding to a 2.21% jump in the previous trading session.

On the losing side, the Nifty Auto index tumbled by 1.30%, while the Nifty Energy, Nifty Pharma, Nifty Infra, Nifty Oil & Gas, and Nifty PSE indices all ended in negative territory.

29 Nifty 50 stocks close in the red

A total of 29 Nifty 50 stocks ended today’s session in the red, with Adani Group stocks emerging as the biggest losers. Shares of Adani Enterprises and Adani Ports & SEZ fell by 5.2% and 3.5%, respectively. Auto stocks, including Bajaj Auto, Mahindra & Mahindra, Tata Motors, Eicher Motors, Maruti Suzuki India, and Hero MotoCorp, also saw declines of up to 3.2%.

Similarly, PSU stocks such as Coal India, ONGC, Power Grid, and BPCL experienced selling pressure, closing Tuesday’s trade with losses ranging between 1% and 1.5%.

On the winning side, Shriram Finance led the gains, ending the session up by 3.4%. Other stocks such as Britannia Industries, Infosys, Bharat Electronics, Asian Paints, JSW Steel, Wipro, and TCS also ended with gains exceeding 1%.

Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.