Markets close flat, NIFTY50 at 22,335, SENSEX gains 165 points

The domestic markets closed marginally higher on Tuesday, with the NIFTY50 and SENSEX gaining 0.01% and 0.22%, respectively. Markets witnessed a rollercoaster ride throughout the day, but gains in index heavyweights like HDFC Bank (+2.3%), TCS (+1.7%) and Reliance Industries (+0.6%) helped benchmark indices to end with modest gains after a volatile trading session.

Out of the NIFTY50 space, 37 stocks closed in the red. HDFC Bank, LTI Mindtree, and TCS were among the top gainers. Meanwhile, Adani Enterprises, Grasim, and Cipla were among the top losers.

India VIX, a measure of volatility in the domestic markets, declined 2.55%. On the sectoral front, NIFTY IT (+0.6%) and Financial Services (+0.17%) were the top gainers, while NIFTY Realty (-3.7%), PSU Bank (-2.5%) were the top losers.

Broader market indices, including NIFTY Midcap100 (-1.4%) and Smallcap100 (-1.98%) declined for the second consecutive day, amid concerns around tighter risk disclosure norms by the market regulator SEBI.

Coming to individual stocks, ITC declined 1.83% following reports concerning stake sale by its largest shareholder British American Tobacco (BAT).

Meanwhile, RK Swamy and Bharat Highways InvIT made a tepid stock market debut. RK Swamy listed at 13% discount to its issue price on NSE, while Bharat Highways InvIT listed at premium of 1%.