FINAL TRADE: Nifty ends flat after recording fresh high; Sensex settles at 67,221, up 94 points

Stock market today:  The Indian equity market closed mixed on Tuesday, September 12. After a historic feat of Mt. 20,000, the Nifty50 slipped as investors rushed to book profit in recent outperformers. The S&P BSE Sensex closed with marginal gains after a volatile trading session.

At close, the S&P Sensex stood at 67,221.13, up 94.05 points, or 0.14 per cent, while the Nifty ended at 19,993.20, down 3 points, or 0.02 per cent.

Among the Nifty50 stocks, 20 advanced and 30 declined. Broader market indices, Nifty Mid Cap 100 and Small Cap 100 saw heavy selling pressure after Kotak Institutional Equities said in its report that the relentless rally in the mid-and small-cap segments is nothing but irrational exuberance.

Bank, auto, financial services, FMCG, and oil & gas counters also experienced selling pressure, whereas the IT index closed over 1 per cent higher. The pharma index ended 0.14 per cent higher.

TECHNICAL VIEW 

"Overall, the short-term outlook is positive, and this consolidation is likely to be used as a buying opportunity. In terms of levels, 19,865–19,810 is the crucial support zone, while 20,200–20,250 shall act as an immediate hurdle zone," said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

As regards Bank Nifty, Gedia added that there could be a consolidation in the range of 45,800 – 45,000 from a short term perspective. Daily and hourly momentum indicators are providing divergent signals, which could lead to consolidation in the near term.

NIFTY 50 STOCKS 

TCS, Infosys, Dr Reddy's Laboratories, UltraTech Cement, and Divi's Laboratories were the major gainers. On the flip side, BPCL, NTPC, Coal India, Adani Enterprises, and Coal India were the top losers.

BUZZING STOCKS

L&T shares were up over 1 per cent at close after the company increased its buyback offer price by Rs 200 to Rs 3,200 from Rs 3,000 earlier.

Steel Strip Wheels closed over 3 per cent lower after anti-dumping news.

Oracle Financial Services stock was down over 2 per cent at close after the company projected current-quarter revenue below Wall Street targets.

ITI Ltd shares extended gains for the second trading session and ended over 11 per cent higher after the company introduced its proprietary laptops and micro PCs on the market under the brand name SMAASH.

GLOBAL MARKETS 

Asian shares were trading mixed Tuesday following a Big Tech rally on Wall Street as investors awaited an update on US consumer prices set for later in the week.

Japan's benchmark Nikkei 225 surged 1.0 per cent to 32,776.37. Australia's S&P/ASX 200 added 0.2 per cent to 7,206.90. 

South Korea's Kospi shed 0.8 per cent to 2,536.80. Hong Kong's Hang Seng dropped 0.2 per cent to 18,056.17, while the Shanghai Composite fell nearly 0.2 per cent to 3,137.73.

(With agency inputs.)

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