Sensex, Nifty end flat as energy gains offset losses in financials
India Today
The blue-chip NSE Nifty 50 index closed 0.05% lower at 15,574.85, while the benchmark S&P BSE Sensex was unchanged.
Indian shares' recent rally was stalled on Tuesday, as gains in energy stocks, amid optimism from declining daily cases of COVID-19, were offset by losses in materials and financials. The blue-chip NSE Nifty 50 index closed 0.05% lower at 15,574.85, while the benchmark S&P BSE Sensex was unchanged. Both the indexes closed 1% higher on Monday, building up on gains posted last week. "We feel that the market has had a one-way run up and today it is pausing for breath and we can see a small correction around here because market has been moving up continuously for the last seven to eight trading sessions," said Samrat Dasgupta, chief executive of Esquire Capital Investment Advisors.
A look at Sensex stocks shows that IT names such as HCLTech, Tech Mahindra, and TCS were trading in the green, even as heavyweights across banking, auto, metal and consumption sectors saw sharp declines.
As of 10:26 am on MCX, gold futures were trading at Rs 1,37,307, down Rs 7,185 or 4.97%. Silver futures were at Rs 2,13,600, down Rs 13,172 or 5.81%.
The stock has seen a steep decline recently. In just two sessions, the share price fell from around Rs 843 to Rs 781 on the NSE, marking a drop of over 7%. After closing at Rs 781 on Friday, the stock is now only Rs 11 above its 52-week low of Rs 770.
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The former RBI Govenor said a 15–20% global energy disruption would require sharp demand cuts, pushing oil to $150–$200 per barrel, risking severe economic stress if the conflict continues another month.
Venkataraman joined Flipkart in 2015 and has been part of the company's leadership team through a period of growth and restructuring. During his tenure, he helped strengthen the company's financial operations.