Mumbai: Benchmark stock indices Sensex and Nifty closed flat after a volatile trade on Tuesday as investors booked profits amid concerns over potential rate hikes in the US and persistent foreign fund outflows.
The BSE barometer eked out gains of 3.94 points or 0.01 per cent to settle at 65,220.03. During the day, it climbed 146.82 points or 0.22 per cent to a high of 65,362.91. The NSE Nifty inched up 2.85 points or 0.01 per cent to settle at 19,396.45.
Sectors closely tied to the Western economy, such as IT and pharma, faced challenges, while domestic-oriented sectors, alongside mid and small-caps, exhibited resilience and gained traction.
From the Sensex pack, ITC, Mahindra & Mahindra, Wipro, Larsen & Toubro, Axis Bank, Tata Steel, Maruti and Bharti Airtel were the major gainers.
Jio Financial Services, Bajaj Finserv, State Bank of India, ICICI Bank, Tata Consultancy Services, HDFC Bank, Tech Mahindra and UltraTech Cement were among the laggards.
In the broader market, the BSE midcap gauge climbed 0.94 per cent and smallcap index jumped 0.89 per cent.
Among the indices, telecommunication climbed 2.10 per cent, utilities rallied 1.58 per cent, power jumped 1.44 per cent, capital goods (1.25 per cent), industrials (1.16 per cent) and FMCG (0.70 per cent). IT and bankex were the laggards.
The rupee recovered from its all-time low levels and settled higher by 14 paise at 82.99 against the US dollar on Tuesday, as the American currency retreated from its elevated levels.
Global oil benchmark Brent crude declined 0.18 per cent to $84.31 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,901.10 crore on Monday, according to exchange data.