Equity gauges end flat after volatile trade, metals dip

Key equity indices remained range-bound on Tuesday before ending at flat levels with metal stocks taking a hit.

The BSE S&P Sensex closed 53 points or 0.1 per cent lower at 52,276 while the Nifty 50 lowered by 12 points or 0.07 per cent to 15,740.

Sectoral indices at the National Stock Exchange were mixed with Nifty metal down by 1 per cent, PSU bank by 1.4 per cent and private bank by 1 per cent. But Nifty IT was up by 1.2 per cent at the closing bell.

Among stocks, Hindalco lost by 1.7 per cent to Rs 388 per share while Tata Steel slipped by 1.6 per cent to Rs 1,110 and JSW Steel by 1.3 per cent to Rs 706.35.

Kotak Mahindra Bank dropped by 1.2 per cent, HDFC Bank by 1.1 per cent, State Bank of India by 1.1 per cent and HDFC by 1.2 per cent.

However, Tata Motors ticked up by 3.2 per cent to close the day at Rs 356.50 per share.

Tech Mahindra gained by 2.3 per cent, HCL Technologies by 1.8 per cent and Infosys by 1.7 per cent. Bharti Airtel, Britannia and Cipla also traded with a positive bias.

Meanwhile, Asia stocks closed lower with investors hoping for inflation and monetary policy clues later in the week.

Japan’s Nikkei edged down 0.19 per cent as market heavyweights offset gains in drugmakers and Hong Kong stocks ended flat as energy losses offset property gains.

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