Mumbai, Sep 3: Indian equity indices were trading flat on Tuesday amid mixed market sentiments. As of 9:51 a.m., the Sensex was down 76 points, or 0.09%, at 82,483, while the Nifty was down 17 points, or 0.07%, at 25,261.
Despite this flat performance, the broader market trend remains positive. On the Bombay Stock Exchange (BSE), 2,039 shares were in the green, 829 shares were in the red, and 128 shares remained unchanged.
Midcap and smallcap stocks outperformed large caps, with the Nifty Midcap 100 index rising 229 points, or 0.39%, to 59,382, and the Nifty Smallcap 100 index gaining 116 points, or 0.60%, to 19,359.
Sectoral indices showed a mixed picture: Realty, FMCG, metal, PSU banks, media, energy, and auto sectors emerged as major gainers, while financial services, IT, and service sectors were among the major losers.
In the Sensex pack, top gainers included Sun Pharma, ITC, M&M, Power Grid, HDFC Bank, Tata Steel, Nestle, Wipro, NTPC, Axis Bank, and Tata Motors. On the other hand, the biggest losers were Bajaj Finance, Bajaj Finserv, Infosys, Maruti Suzuki, ICICI Bank, Tech Mahindra, Titan, and TCS.
Market analysts note two distinct trends: In the secondary market, high-quality stocks like Bajaj Finance, ITC, Bajaj Auto, and Maruti Suzuki are experiencing upward momentum. However, in the mid and small-cap segments, there is a noticeable froth with valuations that are increasingly difficult to justify.
