Mkts in range-bound trading ahead of key data

Mumbai: Equity market benchmark Sensex ended higher on Tuesday due to heavy buying in index heavyweights like HDFC Bank, TCS and Reliance Industries (RIL) amid mixed cues from Asian markets. Witnessing a volatile trade, the 30-share BSE Sensex closed 165.32 points or 0.22 per cent higher at 73,667.96 points. During the day, the barometer surged 501.52 points to 74,004.16. The broader Nifty, however, ended almost flat at 22,335.70 points, inching up 3.05 points or 0.01 per cent.

“The domestic market witnessed range-bound trading today after the previous day’s sharp profit booking. However, mid-and small-cap stocks remained pressured, primarily due to apprehensions regarding inflated valuations,” Vinod Nair, head (research), Geojit Financial Services. “Global sentiment remained mixed as investors awaited key US inflation data, which could offer insights into the Fed’s interest rate decisions. Additionally, market participants are anticipating India’s inflation figures scheduled for release today, to remain consistent with the previous month, which will be at the middle of RBI’s tolerance range,” Nair added.

“Despite certain indices and sectors initially performing well, many retreated from their day’s highs, while others hovered close to their lows. Throughout the day, both the midcap and small-cap indices remained under pressure, reflecting the prevailing challenges across these segments of the market.