Sensex, Nifty 50 end flat— 10 key highlights from Indian stock market today

A day after ending with decent gains, the Indian stock market resumed its downward march on Tuesday, July 22, amid weak global cues. The market benchmarks ended flat with negative bias. The Sensex slipped 14 points to close at 82,186.81, while the Nifty 50 settled at 25,060.90, down 30 points, or 0.12 per cent.

The mid and small-cap segments underperformed. The BSE Midcap index lost 0.62 per cent, while the Smallcap index dropped 0.17 per cent.

Indian stock market: 10 key highlights from the day

1. Why did the Sensex, Nifty 50 end flat?

Market benchmarks ended flat as gains in shares of select heavyweights, such as Eternal, ICICI Bank, and HDFC Bank, were offset by losses in those of Reliance Industries, Larsen and Toubro, ITC, and SBI.

The domestic market is witnessing stock-specific action amid unimpressive earnings and stretched valuation. An elusive India-US trade deal is also keeping investors’ risk appetite low.

“The market’s attention is on quarterly earnings, which slowed lately after some traction from banking stocks. Positivity noticed on Friday and Monday tapered ahead of the critical August 1st deadline of the US trade agreement,” Vinod Nair, Head of Research, Geojit Investments Limited, noted.

“Upside in Q1 earnings will be the critical point to sustain the current premium valuations. Continued profit booking by the FIIs exerts downward pressure, while steady inflows from DIIs could support a range-bound movement with a positive bias towards Q1 results and the trade deal,” Nair said.

2. Top gainers in the Sensex index

Shares of Eternal (up 10.56 per cent), Titan (up 1.08 per cent), and BEL (up 0.72 per cent) closing as the top gainers.

3. Top losers in the Sensex index

Shares of Tata Motors (down 2.04 per cent), Adani Ports (down 1.93 per cent), and SBI (down 1.12 per cent) ended as the top losers in the index.

4. Sectoral indices

Most sectoral indices ended lower, with BSE Realty falling 1 per cent. BSE Telecom and Auto also lost almost 1 per cent each.

On the NSE, Nifty Bank fell 0.35 per cent, while the PSU Bank index declined 1.57 per cent.

5. Most active stocks in terms of volume

Vodafone Idea (22.83 crore shares), YES Bank (12.67 crore shares), and Jaiprakash Power Ventures (12.56 crore shares) were the most active stocks in terms of volume on the NSE.

6. Stocks that jump over 10% on the BSE

Agi Greenpac, Tilaknagar Industries, and Eternal were among those stocks that defied market sentiment and surged over 10 per cent on the BSE.

7. Stocks that crash over 10%

Vandan Foods, Radhe Developers India, Gujarat Intrux, and Kirloskar Pneumatic Company were among the stocks that crashed over 10 per cent on the BSE.

8. Advance-decline ratio

Out of 4,198 stocks traded on the BSE, 1,790 advanced, while 2,231 declined. Some 177 stocks remained unchanged.

9. 150 stocks hit 52-week highs

Eternal, ICICI Bank, Shree Cement, and UPL were among the 150 stocks that hit their 52-week highs in intraday trade on the BSE.

On the other hand, Tejas Networks, Raymond Realty, and Smartworks Coworking Spaces were among the 33 stocks that hit their 52-week lows on the BSE.

10. Nifty’s technical outlook

Shrikant Chouhan, the head of equity research at Kotak Securities, believes that the current market texture is non-directional. Hence, level-based trading would be the ideal strategy for day traders.

“For traders, the 25,000, or the 50-day SMA (simple moving average), would be the key support zone. As long as the market trades above this level, a pullback formation is likely to continue,” said Chouhan.

“On the higher side, 25,200 and the 20-day SMA or 25,325 would be the key resistance areas for the bulls. On the flip side, a breach of 25,000 could push the market towards 24,900. Further downside may also continue, which could drag the index down to 24,775,” Chouhan said.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.