Sensex, Nifty end flat; Sona BLW jumps 9%, Mazagon Dock falls 6%
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Indian equity benchmarks ended nearly unchanged on Tuesday, October 27, as gains in select stocks were offset by selling pressure in heavyweight shares. The Sensex declined 8.08 points, or 0.01%, to close at 73,598.67, while the Nifty 50 fell 3.45 points, or 0.02%, to settle at 22,749.75.
The benchmarks recovered from their intraday lows but failed to sustain gains. The Sensex traded between 73,179.41 and 73,762.98, while the Nifty moved in a range of 22,636.85 to 22,829.75.
Broader markets outperformed the benchmarks, with the Nifty Next 50 gaining 1.30% and the Nifty Midcap Select rising 0.40%.
Tata Consumer, Bharti Airtel lead gainers
Tata Consumer Products was among the top Nifty 50 gainers, rising 6.78%, followed by Bharti Airtel, which gained 3.18%. Bajaj Auto advanced 3.17%, while BSE and Trent rose 2.44% and 2.40%, respectively.
On the losing side, Asian Paints declined 1.94%, Coal India fell 1.73%, Grasim Industries dropped 1.67%, State Bank of India shed 1.63% and Tata Consultancy Services lost 1.50%.
Information technology stocks remained under pressure, with Infosys among the major laggards. Investors also remained cautious ahead of the US Federal Reserve's policy decision, due on Wednesday, October 28.
Elevated crude oil prices continued to weigh on sentiment. Brent crude was hovering near $115 a barrel amid concerns over geopolitical tensions in West Asia and potential supply disruptions. Higher oil prices can raise India's import bill, put pressure on the rupee and increase input costs for businesses.
Sona BLW rallies; Mazagon Dock tanks
Among individual stocks, Sona BLW Precision Forgings jumped 8.95% to ₹851.85, while Ather Energy rose 6.29% to ₹1,674. Both stocks extended gains after reporting their September-quarter results on Monday.
Urban Company advanced 5.94% to ₹143.70, while Netweb Technologies gained 1.54% to ₹4,352.
Mazagon Dock Shipbuilders slumped 6.45% to ₹1,754 after its quarterly results came into focus. The company reported a sharp year-on-year decline in profit, with net profit falling 54% to ₹344 crore. Revenue also declined, adding to pressure on the stock.
IndiaMART InterMESH rose 4.80% to ₹1,637. Bandhan Bank gained 0.70% to ₹151.91 after touching an intrady high of ₹157.45. The lender denied reports of acquisition-related discussions with First Abu Dhabi Bank, calling its mention in the report factually incorrect.