Market Wrap, June 10: NIFTY50 ends flat, SENSEX slips 53 points; IT stocks rally

The Indian stock market closed flat on Tuesday, June 10, as investors remain cautious amid the ongoing trade talks between the US and China in London. Profit booking in the banking stocks also dampened the optimism.

The market breadth, however, remained in favour of positive. The broader market also settled with marginal gains on Tuesday.

Nifty Bank, after hitting a fresh high on the last trading session, settled at the 56,629.10 level, slipping 0.37%. Gains in the Nifty IT and media counters contributed to the NIFTY50.

According to exchange data, on Monday, the foreign institutional investors (FIIs) purchased equities worth ₹1,992.87 crore on a net basis, while the domestic institutional investors (DIIs) bought ₹3,503.79 crore worth of equities.

Globally, all the market investors wait for updates from the US-China delegation meeting in London aimed at mending a trade dispute. In Asia, most of the indices were ended positive.

Japan’s Nikkei 225 ended 0.32% higher at the 38,211.51 level, while the Shanghai Composite closed marginally down by 0.44% to the 3,384.82 level.

South Korea’s Kospi index gained 0.56% to settle at 2,871.85, and Hong Kong’s Hang Seng was seen at the 24,162.87 mark, slipping 0.08%.

The US markets closed with little gains on Monday as investors remain cautious. The S&P 500 climbed 0.09% to end the session at 6,005.88 points. The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points.

As many as 2,991 stocks traded on the NSE on Tuesday. Out of this, 1,609 advanced, and 1,302 declined, while 80 scrips remained unchanged.

This, however, indicates that the market breadth favoured positives.

A total of 105 stocks hit their 52-week highs, while only 14 stocks touched their one-year lows. Besides, 116 stocks hit their upper circuit limits, and 49 touched their lower circuit bands on Tuesday.

NSE-listed firms' market capitalisation stood at ₹453.32 lakh crore at the end of the session.

The volatility index India VIX slumped 4.61% to 14.02 levels.

The NIFTY Midcap 100 index rose 0.01%, ending at 59,681.40 levels, while the NIFTY Smallcap 100 gauge advanced 0.14% to close at 18,899.80 levels.

Grasim Industries took the lead among the gainers' pack, jumping 3.66%. Tech Mahindra (2.14%), Dr Reddy’s (2.1%), Tata Motors (2.08%) and Adani Enterprises (1.39%) were the other top movers on the 50-share index.

Meanwhile, Trent (-1.65%), Maruti Suzuki (-1.31%), Bajaj Finance (-1.22%), Tata Steel (-1.06%) and Bajaj Finserv (-0.99%) were among the top losers on Tuesday.