Indices end flat, Nifty settles at 11,222

Tuesday,   29-Sep-2020   03:59 PM (IST)

The benchmark indices ended Tuesday's volatile session on a flat note with a negative bias. The S&P BSE Sensex ended at 37,973 levels, down 8 points, or 0.02 per cent. During the session, the index hit an intra-day high and low of 38,236 and 37,831, respectively. ONGC (down 4%) was the top Sensex laggard, followed by IndusInd Bank, Power Grid, and Axis Bank (all down 3%). On the other hand, UltraTech Cement (up 3 per cent) while Tata Consultancy Services (up over 2.5 per cent) ended as the top gainers on the index. ICICI Bank, ITC, Axis Bank, Hindustan Unilever (HUL), and HCL Tech were the major contributors to the index's loss while RIL and TCS gave the much-needed support. On the NSE, the broader Nifty50 index settled at 11,222, down 5 points, or 0.046 per cent. The trend among Nifty sectoral indices was largely negative, led by Nifty PSU Bank index, down over 2 per cent. In the broader market, the S&P BSE MidCap index was trading at 14,697, down 0.16 per cent while the S&P BSE SmallCap closed at 14,861, down 0.01 per cent. European shares slipped on Tuesday as investors awaited the first US presidential debate and eyed progress of a fiscal stimulus package in Washington. US shares were set to open lower, with futures for the S&P 500 and Nasdaq giving up earlier gains to slip into negative territory. The MSCI world equity index, which tracks shares in nearly 50 countries, was flat. Meanwhile, the global death toll from Covid-19 rose past 1 million on Tuesday, according to a Reuters tally. In commodities, oil prices dropped, paring gains from the previous session, as persistent demand concerns due to the coronavirus pandemic outweighed hopes generated by a new US stimulus package that lawmakers are struggling to agree.