Equities close flat after volatile trade, Bajaj twins gain

Equity benchmark indices erased all early losses and closed flat after a volatile session on Tuesday amid weak signals from Asian markets.

Investors booked profit as the overall sentiment was dampened by increasing COVID-19 deaths globally and restrictions overshadowed vaccine-related enthusiasm.

The BSE S&P Sensex closed 10 points or 0.02 per cent higher at 46,263 while the Nifty 50 too ticked up by 10 points or 0.07 per cent at 13,568.

Most sectoral indices at the National Stock Exchange were in the negative terrain with Nifty PSU bank down by 1.7 per cent, FMCG by 1.2 per cent and IT by 0.18 per cent.

Among stocks, Bajaj Finance advanced by 5.1 per cent to Rs 5,150 per share while Bajaj Finserv moved up by 4.2 per cent to close the day at Rs 9,307.

Eicher Motors gained by 3.1 per cent, JSW Steel by 2.5 per cent, HDFC by 2 per cent and Adani Ports by 1.7 per cent.

However, FMCG majors Hindustan Lever and Nestle India lost by 2 per cent each, ICICI Bank and Axis Bank by 1.7 per cent and 1.4 per cent respectively, State Bank of India by 1.3 per cent and Cipla by 1 per cent.

Meanwhile, Asian stocks drifted lower as worries about increasing COVID-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations.

Markets in Japan and South Korea, both grappling with surging infection numbers and growing public frustration, slipped by 0.17 per cent and 0.19 per cent while Hong Kong gave up 0.69 per cent.

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