Equity benchmarks, namely the Sensex and the Nifty 50, showed marginal movement on Tuesday, January 9, with a flat closing.
This was influenced by a combination of mixed global cues and a cautious approach from investors awaiting key macroeconomic data, including the US Consumer Price Index (CPI) for December, scheduled for Thursday, and India’s CPI print for December, expected on Friday.
Additionally, market sentiment is anticipated to be shaped by the third-quarter earnings reports of IT giants Infosys and TCS, set to be disclosed on Thursday.
Despite robust gains in the previous two months, the domestic market has experienced volatility in January due to a lack of fresh triggers. Market experts suggest that with many positive factors already factored in, profit booking is occurring at higher levels.
Investor attention has shifted towards the December quarter earnings, seen as crucial for maintaining the market’s elevated valuation. On Tuesday, the Sensex closed at 71,386.21, registering a modest uptick of 31 points or 0.04%, while the Nifty 50 settled at 21,544.85, up 32 points or 0.15%.
Notable drags on the Sensex included shares of HDFC Bank, Reliance Industries, ICICI Bank, and Axis Bank. Conversely, stocks of Larsen & Toubro, Bharti Airtel, HCL Tech, and Infosys played pivotal roles in supporting the Sensex.
The BSE Midcap index recorded a slight gain of 0.07%, while the Smallcap index reached a new all-time high of 44,110.68 during the session and concluded with a gain of 0.37%. This dynamic reflects the nuanced movements within different market segments during the trading session.
