Mumbai (Maharashtra) [India], July 22: Indian equity markets closed flat in a volatile session on Tuesday, as investors engaged in profit booking amid ongoing quarterly earnings volatility and lingering uncertainty over the India-US trade agreement.
“The market movement reflects a cautious approach, with many investors locking in gains due to result season fluctuations,” said Ashika Institutional Equities.
By the close, the BSE Sensex slipped 13.53 points or 0.02% to finish at 82,186.81, while the NSE Nifty fell 29.80 points or 0.12%, ending at 25,060.90.
All sectoral indices closed in the red, indicating broad-based selling. Nifty Media and Nifty PSU Bank were among the top sectoral losers. The Nifty Midcap and Nifty Smallcap 100 indices also ended in negative territory, reinforcing the bearish sentiment in broader markets.
Market breadth remained weak. Out of 3,157 stocks traded, 1,489 advanced, 1,081 declined, and 587 remained unchanged. Within the Nifty 500, 317 stocks ended lower, further skewing the advance/decline ratio in favor of sellers.
Top gainers on the Nifty included Eternal, HDFC Life, Titan Company, Hindalco Industries, and Bharat Electronics. Shriram Finance, Jio Financial, Eicher Motors, Adani Ports, and Tata Motors were among the top losers.
Despite today’s weakness, some analysts remain cautiously optimistic. “The broader market undertone remains bullish, and sectoral investments are expected. Nifty may find support around 24,950–24,800 and face resistance near 25,150–25,270 in the upcoming session,” said VLA Ambala, SEBI Registered Research Analyst.
Looking ahead, investor sentiment could improve if the much-anticipated Free Trade Agreement between India and the US is signed during Prime Minister Narendra Modi’s UK visit this week, potentially offering a positive trigger for the markets.