Closing Bell: Markets snap seven-day rally; closes flat after touching new highs.

Closing Bell: Markets snap seven-day rally; closes flat after touching new highs.

by 5paisa Research Team Last Updated: 2022-04-04T13:14:18+05:30

Domestic equity indices continued the bull run to hit record highs on Tuesday, October 19, in a volatile trading session.

The BSE Sensex and Nifty 50 gave up early gains and slipped into the red during the late morning deals, but turned positive thereafter. The 30-share BSE index touched the intraday high of 62,245 during the afternoon session. 

At the closing bell on Tuesday, the Sensex was down 49.54 points or 0.08% at 61716.05, and the Nifty was down 58.20 points or 0.31% at 18418.80. On advance-decline, around 959 shares have advanced, 2321 shares declined, and 122 shares remain unchanged. IT and financial services stocks supported the headline indices at higher levels.

Among the top gainers of the day were Tech Mahindra, L&T, Bajaj Finserv, Infosys and Kotak Mahindra Bank, while the top losers on Tuesday were ITC, Tata Motors, Eicher Motors, HUL and Titan Company.

On the sectoral front, barring IT and Capital Goods, all other sectors closed in the red. The BSE midcap and smallcap index lost over 1% each in today's trade.

The trending stock for the day was L&T which gained 3% at Rs 1844.95 on the BSE. L&T Infotech, an L&T Group company, had reported a superlative earnings report. The net profit was Rs 552 crore for the second quarter, up by 21% on a year-on-year basis. L&T Infotech zoomed 16%to ₹ 6,880 post its results.

ITC on the other hand got impacted and nosedived 6.2% on the BSE after the Ministry for Health and Family Welfare set up an expert panel to review the taxation policy for tobacco products.

More quarterly results from India Inc will be released tomorrow.

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