Mumbai: Uncertainties in the global market and caution ahead of the interim budget kept the major equity indices in a tight range on Tuesday, which lead to both key indices ending on a flat to negative note. Sensex closed 64 points lower.
Additionally, caution prevailed over the ongoing third quarter results season and stock-specific volatility reined in the market’s upward movement.
Globally, investor sentiments were subdued as the US-China trade conflict intensified after the US Justice Department filed criminal charges against Huawei accusing the world second-largest smartphone marker of bank fraud, obstruction of justice and theft of technology.
“Market opened on a negative note due to uncertainties surrounding the global market and the upcoming US Fed policy,” said Vinod Nair, Head of Research, Geojit Financial Services.
“However, towards the closing, market managed to recoup some of the losses supported by strengthening rupee and short covering ahead of F&O expiry.”
The BSE Sensex ended 64 points or 0.18 per cent lower at 35,592.50, while the Nifty50 closed 9.35 points or 0.09 per cent down at 10,652.20.
Oil and gas stocks ended 0.92 per cent lower, while the key finance and banking stocks ended on a flat to negative note.
The top gainers on the BSE were Sun Pharma, Bajaj Finance, Tata Motors (DVR), TCS and Asian Paints, while the top losers were Yes Bank, Larsen and Toubro, HDFC and HDFC Bank.