Domestic benchmark indices BSE Sensex and the National Stock Exchange’s Nifty 50 ended flat on Tuesday after reaching all-time highs during the morning trade.
The Sensex closed 26.09 points lower to settle at 37,665.80 and the Nifty 50 closed at 11,389.50, up 2.40 points. Earlier in the day, the Sensex surged 184.98 points to 37,876.87, while Nifty 50 rose 41.85 points to a new high of 11,428.95.
Stocks of energy companies and public sector unit banks dragged the market down toward the end of the trading session. Global markets followed positive cues from profits made on the Wall Street, calming fears about a strain in trade relations between China and the United States.
Washington’s re-imposition of sanctions on Iran led to a rise in oil prices as Tehran’s global supply is expected to decline with the curbs.
The indices’ record run can be attributed to a boost in investor sentiments by June-quarter earnings despite mixed cues from global markets, geopolitical tensions and trade war conflicts, reported Mint.
Tata Steel was the top gainer on both the indices. Stocks of Asian Paints, Vedanta, NTPC and Maruti Suzuki also performed well on the Sensex. Adani Ports was the top loser on both indices. Bharti Airtel, State Bank of India, Power Grid Corporation and ONGC were among the top losers on the Sensex.
Adani Ports dropped by over 6% on both indices after its earnings report for April-June showed a decline in consolidated net profit by 9.1% to Rs 697.40 crore.