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Updated December 26th, 2023 at 09:39 IST

Sensex, Nifty trade on a flat note, Infosys falls on termination on agreement

Buying was visible across board as all the sector gauges compiled by the National Stock Exchange, barring the measure of IT shares, were trading higher.

Reported by: Abhishek Vasudev
Nifty, Sensex hit new highs on state elections boost
Infosys was top Nifty loser, the stock fell over 2 per cent to Rs 1,531 | Image:Republic World
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The Indian equity benchmarks were little changed on Tuesday as gains in Reliance Industries, Larsen & Toubro, Tata Steel and NTPC were offset with losses in Infosys, TCS, Wipro and HCL Technologies. The Sensex was trading in a range of 149 points and Nifty 50 index touched an intraday high of 21,377 and low of 21,329.

As of 9:23 am, the Sensex was up 85 points at 71,191 and Nifty 50 index advanced 33 points to 21,383.

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Asian stocks exhibited caution on Tuesday, while the dollar hovered near a five-month low, driven by diminishing US inflation figures that heightened expectations of impending interest rate cuts by the Federal Reserve.

Investors continued to digest the data released on Friday, revealing a decline in US prices for November, marking the first such occurrence in over 3-1/2 years. The development underscored the resilience of the US. economy.

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MSCI's broadest index of Asia-Pacific shares outside Japan showed a marginal increase of 0.18 per cent, on track for a 1.6 per cent gain for the year. In contrast, Japan's Nikkei experienced a slight dip of 0.07 per cent, although it remains the top-performing Asian stock market with an impressive 27 per cent gain for the year.

Back home, buying was visible across board as all the sector gauges compiled by the National Stock Exchange, barring the measure of IT shares, were trading higher led by the Nifty Metal index's 0.9 per cent gain. Auto, FMCG, media, metal, PSU bank and oil & gas shares were also witnessing buying interest.

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Mid- and small-cap shares were outperforming their larger peers as Nifty Midcap 100 index rose 0.45 per cent and Nifty Smallcap 100 index advanced 0.27 per cent.

Hero MotoCorp was top Nifty gainer, the stock rose 2 per cent to Rs 4,015. UPL, Tata Consumer Products, Tata Steel, NTPC, Apollo Hospitals, Divi's Labs, Britannia and Coal India also rose between 0.7-1.9 per cent.

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On the flipside, Infosys was top Nifty loser, the stock fell over 2 per cent to Rs 1,531 after a global company terminated a memorandum of understanding.

Wipro, HCL Technologies, Tech Mahindra, Tata Consultancy Services, Tata Motors, Maruti Suzuki and Bharat Petroleum were also among the losers.

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The overall market breadth was positive as 2,119 shares were advancing while 978 were declining on the BSE.
 

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Published December 26th, 2023 at 09:38 IST

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