Sensex Today | Stock Market Highlights: The benchmark indices managed to hold their key levels, with the Sensex closing 33 points higher at 78,017 and the Nifty gaining 10 points to end at 23,669. However, midcap stocks underperformed.
Sensex Today | Stock Market Highlights: The Sensex and Nifty extended their winning streak for the seventh consecutive session on Tuesday, even as broader markets witnessed selling pressure. While cement and IT stocks led the gains, weakness in banking, auto, and oil companies weighed on the market. Cement stocks saw strong buying interest after a brokerage upgrade, with UltraTech emerging as the top gainer. The IT sector also surged on the back of a positive brokerage note, with Infosys, Persistent Systems, and Coforge among the best performers. In the banking space, HDFC Bank and Axis Bank provided some support to the Nifty Bank index, but it still ended 97 points lower at 51,608.
Auto stocks failed to sustain early gains, with Mahindra & Mahindra emerging as the biggest loser following a brokerage downgrade. Meanwhile, Trent and Avenue Supermarts attracted buying interest, rising over 2% each. On the other hand, midcap stocks struggled, with Dixon Technologies, Zomato, MCX, Kalyan Jewellers, and CAMS leading the declines. The Nifty Midcap index closed 554 points lower at 51,970.
Global developments also added to the pressure on specific sectors. Oil companies slipped after the US announced a 25% tariff on countries buying oil from Venezuela, raising concerns about energy sector profitability.
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