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The stock market closed flat on Tuesday. Major indices of the market remained sluggish due to weak global cues. BSE Sensex has closed at 62,792 and Nifty at 18,599. IT stocks did the job of putting pressure on the market.
IT stocks created pressure
IT sector shares closed down by 1.88 percent. On the second trading day of the week, the Sensex closed at a level of 62,792.88 points with a gain of 5.41 (0.01%). On the other hand, the 50-share Nifty index jumped 5.15 (0.03%) points to close at 18,599.00 points. According to Vinod Nair, Head of Research, Geojit Financial Services, selling pressure in the IT sector led to profit-booking in the domestic market. IT stocks declined on fears of a further cut in spending. However, a rally in autos and banks helped offset losses. The Reserve Bank’s comment on growth and inflation projections after the Monetary Policy Committee (MPC) meeting will be important as there is a general consensus that interest rates will continue to remain on hold.
climbing stocks
stock rally
Ultratech +3%
Divi’s Lab +2.20%
Kotak Bank +2%
Axis Bank +2%
falling stock
stock fall
Tech Mah – 2.1%
Infosys – 1.95%
TCS – 1.70%
ONGC – 1.06%
