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Markets Closed on a Flat note after Two Days of Gains

Sensex, Nifty today: PNB shares fell as much as 3.8 per cent after the announcement of earnings.

Domestic stock markets, closed on a flat note on Tuesday, retreating from record highs hit earlier in the session.

The S&P BSE Sensex dropped 26.09 points, or 0.07 per cent, to close at 37,665.80. The NSE’s Nifty50 index rose 2.35 points or 0.02 per cent to settle at 11,389.45.

The domestic equity indices ended flat today as gains in material stocks were offset by losses in energy and industrials.. Trade war conflicts impacted the global markets today which further led pressure on domestic indices.

Top laggards on the BSE index were Tata Motors, Sun Pharma, ONGC, SBIN, Coal India and Adani Ports, ending between 1.12 per cent and 6.49 per cent lower. Reliance, Adani Ports, SBIN and ICICI Bank majorly contributed to the losses in Sensex.

Prominent losers on NSE index were Adani Ports, Coal India, Hindustan Petroleum, BPCL and Cipla, ending with losses between 1.55 per cent and 6.08 per cent.

Punjab National Bank (PNB) today reported its second consecutive quarter of loss. Net loss was Rs. 940 crore for the three months to June 30, the bank said in a statement. PNB shares fell as much as 3.8 per cent after the announcement of earnings.

Shares of Adani Ports Special Economic Zone fell over 6 per cent in their biggest intraday percentage drop since March 7 after the company reported a 9 per cent drop in quarterly profit on Monday.

Market heavyweight Reliance Industries Ltd fell as much 1.3 per cent. State-run lender Syndicate Bank Ltd’s shares fell as much as 4.2 per cent to 42.25 rupees, their biggest daily percentage fall in nearly three weeks.

Meanwhile, major gainers in the Sensex pack were Tata Steel, Asian Paints, NTPC, Vedanta, Maruti, Yes Bank, rising between 1.05 per cent and 3.61 per cent. Tata Steel, Titan, Bajaj Finance, Eicher Motors and Asian Paints (rising between 1.98 per cent and 4.02 per cent) led the gains in Nifty.

Tata Steel Ltd ended 3.6 per cent higher, at its steepest close since June 12, while the Nifty Metal Index closed 1.16 per cent firmer.

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Markets Closed on a Flat note after Two Days of Gains
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