Equity Market settled flat on Tuesday ahead of the result of Karnataka assembly elections and on high April WPI rate. Inflation at the wholesale level rose to 3.18 pc in April on increasing prices of fuel and food items.
The Sensex index closed at 35,556.71, up by 20.92 points, while the Nifty50 of NSE settled flat at 10,806.60, with 22 stocks advances and 28 declines. Gains in bank, financial and pharma stocks were offset by losses in metal, auto and IT stocks.
Top Nifty gainers include NTPC (+2.24%), Bharat Petroleum Corp (+1.30%), IndusInd Bank (+1.25%),, Dr Reddy’s (+1.20%), and Power Grid Corp (+1.04%). On the flip side, Titan Co (-3.49%), Zee Entertainment (-2.75%), Tata Motors (-2.21%), and Mahindra & Mahindra (-2.05%), finished as the top losers in the Nifty constituents.
Sectoral rally on the NSE was mixed. The healthcare and banking sector stocks clocked gains, while the auto, media and IT indices traded under stress.
Outcome of the Karnataka elections will be declared on Tuesday, with most exit polls showing a tight race between the ruling Congress and the BJP.