Sensex, Nifty End Volatile Session Flat; Metal Index Gains 4%
Closing Bell: A Volatile Session
Indian equity markets gave up early session gains to end little changed as Tuesday's outperformers - Reliance Industries and HDFC Bank dragged benchmarks lower.
The S&P BSE Sensex ended little changed at 37,663 while the NSE Nifty 50 index ended 0.2% higher at 11,117.
Metals and Auto stocks were the outperformers in today's session. Four out of the top five Nifty gainers belonged to these two sectors.
The Metal index ended with gains of 4.2%, led by Hindalco and Tata Steel which rose 8.7% and 6.7% respectively.
The Auto index saw gains of over 2% led by Eicher Motors (up 4.4%) and Tata Motors (up 3.7%).
Reliance Industries and HDFC Bank, which contributed 80% to Nifty's 200 point surge yesterday, contributed 35 points to the downside in today's session, keeping the gains in check.
Pharma and PSU banks underperformed in today's trade with the respective indices ending with modest losses.
Broader markets outperformed in today's session. The midcap index gained 0.6% while the smallcap index gained 1.2%.
The India Volatility Index ended 1.3% lower at 23.5.
Market breadth remained in favour of the gainers. 1,156 stocks on the NSE ended with gains while 664 declined.