The key equity benchmarks were trading near the flat line with some negative bias in mid afternoon trade. While all the sectoral indices on the NSE were in the red, the Nifty Media index managed to buck the trend.
At 14:23 IST, the barometer index, the S&P BSE Sensex, was down 19.6 points or 0.04% at 51,917.84. The Nifty 50 index gained 2 points or 0.01% at 15,580.80.
The broader market traded lower. The S&P BSE Mid-Cap index lost 0.26%. The S&P BSE Small-Cap index fell 0.44%.
Sellers outnumbered buyers. On the BSE, 1215 shares rose and 1852 shares fell. A total of 137 shares were unchanged.
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Read more about Nifty trades near 15,300; breadth strong on Business Standard. At 11:26 IST, the barometer index, the S&P BSE Sensex, was up 338.53 points or 0.67% at 50,976.34. The Nifty 50 index added 88.25 points or 0.58% at 15,296.
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New Delhi: The domestic equity market failed to extend its two-day gains and consolidated in a narrow range on Tuesday. Market witnessed profit taking in the banking space, though FMCG, consumer durables and IT stocks capped the fall.
Nifty kept paring any gains made throughout the day, eventually forming a Bearish Belt Hold candle on the daily chart, reflecting selling pressure. Analysts said, only a breach above the 15,300 level can open doors for any further move. As we near the derivatives expiry for May, will the market move upward or consolidate in a narrow range?
Here s how analysts read the market pulse:-