FINAL TRADE: Nifty, Sensex end flat as bulls take a breather after three-day run; Nifty Bank settles in green

Stock market today: Domestic blue-chip indices Nifty50 and Sensex finished a choppy session on a flat note on Tuesday, November 7, as a fag-end recovery in financial shares countered losses in oil & gas, auto and FMCG stocks. Dalal Street took negative cues from other Asian markets following the release of mixed trade data from China. The 50-scrip Nifty index ended barely in the red at 19,406.7 and the leaner Sensex gauge finished the day with a loss of 16.3 points at 64,942.4, having recovered nearly all of their intraday losses.

The Sensex had risen 1,367.4 points, or 2.2 per cent, in the past three trading sessions. Barring Nifty 50, all other broad market indices finished in green territory. Nifty Midcap 100 ended 0.28 per cent higher while Nifty Smallcap 100 closed 0.75 per cent higher.

Nifty Bank ended 0.27 per cent higher at 43,737.9 after recovering from the day's low aided by Federal Bank, PNB, Indus Ind Bank and other five advancing stocks in the sectoral indices. "Bank Nifty recover sharply from intraday dip and closed around the highs for the day. On the downside 43300 – 43200 acted as a strong support and is now extending on the upside. it is likely to inch towards 44000. Momentum setup is in sync with the price action and is likely to provide speed to the upmove," Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas said. 

Hero MotoCorp, Bajaj Finance, JSW Steel, Divi's Labs and RIL were among the top losers, down around 1-4 per cent in the Nifty basket. On the other hand, Sun Pharma, BPCL, NTPC, Dr Reddy and IndusInd Bank were among the top gainers, trading with gains of around 1-2 per cent.

Global Markets

European shares were subdued on Tuesday as a drag in energy stocks offset gains in financials, while Watches of Switzerland jumped to a more than one-month high following a strong second-quarter update.

The pan-European STOXX 600 (.STOXX) was flat by 0815 GMT, having snapped a five-day gaining streak on Monday. It had climbed more than 3% last week amid robust earnings and signs of an end to rate hikes by major central banks. Dow Jones, S&P 500 and Nasdaq Composite futures traded over two per cent lower at the last count, indicating a lower start ahead on Wall Street.

(with agency inputs)

(This story will be updated shortly)

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