Indian indices slipped from record-high levels to end flat on Tuesday as gain in auto, IT stocks were capped by losses in banking, financials and FMCG counterparts.
The Sensex ended 14 points higher at 52,588 while the Nifty rose 26 points to settle at 15,772. In intraday deals, Sensex rose as much as 482.65 points to hit its new record high of 53,057.11.
"Volatility returned after main indices tested near all-time high levels, recurring weak closing of Asian & European markets and feeble futures. Falling covid infection rate along with ramping up of vaccination in India, added colours to the broad market in hopes of faster economic recovery," said Vinod Nair, Head Of Research at Geojit Financial Services.
Broader markets were mixed with the midcap index flat while smallcap index up 0.5 percent.
On the Nifty50 index, Maruti, UPL, Shree Cement, Wipro and SBI Life were the top gainers while Asian Paints, Bajaj Finance, Nestle, HUL and IndusInd Bank led the losses.
Among sectors, Nifty Auto rose the most, up over a percent while Nifty IT added 0.5 percent. Nifty Metal and Nifty Energy were also in the green for the day. However, losses in realty, banking, FMCG and Fin services indices capped the gains. Nifty Realty lost 0.7 percent while Nifty Bank fell 0.4 percent.
Auto major Maruti Suzuki rose 5 percent, lifting the auto index after it said it will raise car prices in the July-September quarter.
Shares of the Central Bank of India and Indian Overseas Bank extended gains, rising up to 5 percent on reports that the central government has shortlisted these banks for divestment.
Shares of Jet Airways were locked in a five percent upper circuit at Rs 99.45 on the BSE after the National Company Law Tribunal (NCLT) approved the Kalrock-Jalan consortium's resolution plan for Jet Airways with riders.
(Edited by : Pranati Deva)
First Published: IST