Sensex, Nifty End Little Changed; Five-Day Winning Streak Ends
Closing Bell: Pressing The Pause Button
Indian equity markets took a breather after a five-day rally that saw the benchmark indices gain between 550 to 2,000 points.
The S&P BSE Sensex ended 0.16% lower at 37,871 while the NSE Nifty 50 index ended 0.27% lower at 11,132. Benchmark indices staged a recovery after hitting the day's low towards the closing minutes of trade.
Gains on the Nifty 50 were led by Axis Bank which reacted positively to its first quarter earnings, ending with gains of 6.7%. Hero MotoCorp, BPCL and Hindustan Unilever were the top laggards on the index, each of them ending over 3% lower.
Most sectoral indices were lower in today's session. The Media index and the Nifty Bank ended with gains of 0.5% while the Auto, I.T. and realty index ended with losses of over 1%. The PSU Bank index underperformed, ending with losses of 1.6%.
Broader markets too remained flat in today's session with the midcap and smallcap indices ending little changed.
The Volatility Index too cooled off from the day's high, ending 1.1% higher at 24.71.
Market breadth ended in favour of the laggards. 1,032 stocks on the NSE ended with losses while 802 stocks posted gains.