Sensex ends flat, as the Nifty stays at the 22,500 mark

Mumbai, 21 May Benchmarks for Indian equities finished flat on Tuesday as a result of sluggish market action.

At the close, the Nifty was up 27 points, or 0.12%, at 22,529 points, while the Sensex was down 52 points, or 0.07 percent, at 73,953 points.

Midcap equities did better on Tuesday than largecap and smallcap stocks. A difference of 69 points, or 0.41 percent, saw the Nifty Smallcap 100 index close at 16,939 points, while the Nifty Midcap 100 index gained 199 points, or 0.38 percent, to 52,068 points.

The sector indexes that had the most gains were auto, PSU Bank, pharma, metal, media, and energy. Major losses were IT, financial services, FMCG, real estate, private banks, and consumption.

The top gainers were NTPC, Tata Steel, JSW Steel, Power Grid, and Tech Mahindra. ICICI Bank, Nestle, Maruti Suzuki, IndusInd Bank, and HUL suffered the biggest losses.

Senior Technical Analyst at LKP Securities Rupak De said, “The index stayed between 22,400 and 22,600. Robust writing between 22,400 and 22,500 might provide the Nifty with some support. On the plus side, a clear break over 22,600 may trigger a short-term surge towards 22,800.”

“Till then, the index might continue consolidating as long as it remains within the range of 22,400 to 22,600,” he said.