Indian equity benchmarks were little changed on Tuesday as gains in HCL Technologies, ICICI BankLarsen & Toubro, Power grid and Information systems Losses were offset by losses in Bharti Airtel, Reliance Industries, Kotak Mahindra Bank and Mahindra & Mahindra amid weak cues from Asian peers. The Sensex moved in a band of 179 points and the Nifty 50 index touched an intraday high of 25,037.70 and a low of 24,988.
At 9:23 am, the Sensex was up 28 points at 81,725 and the Nifty 50 index was down 2 points at 25,008.
Most Asian markets were trading lower: Japan’s Nikkei was down 0.10 percent, Hong Kong’s Hang Seng was down 0.54 percent, China’s Shanghai Composite was down 0.10 percent and South Korea’s KOSPI was down 0.43 percent.
The S&P 500 closed lower Monday evening, with artificial intelligence heavyweight Nvidia falling ahead of its quarterly report this week, while investors awaited inflation data for clues on the path of interest rate cuts by the Federal Reserve.
The technology-heavy Nasdaq also fell, but the Dow Jones Industrial Average was supported by gains of about 1 percent each in Caterpillar and American Express and ended slightly higher.
The S&P 500 fell 0.32 percent to end the session at 5,616.84 points.
The Nasdaq fell 0.85 percent to 17,725.77 points, while the Dow Jones Industrial Average rose 0.16 percent to 41,240.52 points.
In the country, seven out of 13 sectoral gauges compiled by the National Stock Exchange were trading higher, led by the 0.6 per cent rise in the Nifty Pharma index. The Nifty Healthcare, Consumer Durables, Media and IT indices also rose between 0.4 and 0.6 per cent.
On the other hand, selected stocks in the banking, automotive, financial services, real estate and private banking sectors faced selling pressure.
Mid- and small-cap stocks outperformed their larger peers, with the Nifty Midcap 100 index up 0.35 per cent and the Nifty Smallcap 100 index gaining 0.4 per cent.
HCL Technologies was the top gainer on the Nifty, the stock rising 1.41 per cent to Rs 1,743.75 after the company informed the exchanges that it has expanded artificial intelligence and digital engineering solutions with Xerox.
Bajaj Finserv, Power Grid, Dr Reddy’s Labs, Larsen & Toubro, Apollo Hospitals, Cipla, Divi’s Labs, Ultratech Cement and Be protected They also increased by between 0.5 and 0.8 percent.
On the other hand, Bharat Petroleum, Shriram Finance, Kotak Mahindra Bank, Bajaj Auto, JSW Steel, HDFC Life, Bharti Airtel and SBI Life were among the losers.
The overall market breadth remained positive as 1,896 stocks advanced while 1,136 fell on the BSE.
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