Conveniently, Sensex closes on a flat note amid volatility

Equity benchmarks ended Tuesday with marginal gains as investors were cautious ahead of the presentation of the Union Budget and the US Federal Reserve’s interest rate decision.

Fag-end purchases helped the 30-stock BSE benchmark Sensex gain 49.49 points or 0.08 percent at 59,549.90. During the day, the benchmark reached a high of 59,787.63 and a low of 59,104.59.

The broader NSE Nifty rose 13.20 points, or 0.07 percent, to close at 17,662.15.

Among the Sensex package, Mahindra & Mahindra, UltraTech Cement, Power Grid, State Bank of India, ITC, Titan, Tata Motors and ICICI Bank were among the big winners.

Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Asian Paints and HDFC were among the major laggards.

“The Indian market is underperforming compared to the rest of the world as it trades at high valuations, contrary to the moderation in the domestic economy for FY24.

“Premiumization has eased and is currently trading in line with developed markets such as the US; however, we continue to trade at a premium to other emerging markets. The Adani saga has extended the correction as FII sales have increased. focus on the outcome of fiscal and Fed policy, on which the market has a mixed picture,” said Vinod Nair, Head of Research at Geojit Financial Services.

Elsewhere in Asia, equity markets in Seoul, Tokyo, Shanghai and Hong Kong ended lower.

Stocks in Europe traded in the red during mid-session deals. US markets had ended in negative territory on Monday.

International oil benchmark Brent crude fell 1.18 percent to $83.90 a barrel.

Foreign institutional investors (FIIs) unloaded shares worth net Rs 6,792.80 crore on Monday, according to exchange data.

(Except for the headline, this story has not been edited by DailyExpertNews staff and is being published from a syndicated feed.)