Mumbai : BSE Index came down 0.2 per cent to close at 60,433.5 points on Tuesday while Nifty50 ended at 18,044.3 points, down 0.1 per cent. However, investors were seen buying in Midcap and Smallcap counters during the day.
Although Global markets remained positive as Asian markets closed mostly in the Green and equities in Europe witnessed a good beginning, the domestic benchmark indices did not show positive results and the losses were led by shares of financial services, consumer goods and metal companies.
However, in the broader market, madcap and smallcap stocks continued to outperform against their largecap peers. It may be noted that in the last three months, the largecaps have underperformed but the trend appeared to have reversed now, market experts opined.
Shares of state-owned lender banks attracted investors as usual following a good quarter earnings in September. As these banks are also increasing their asset quality issues, they could pose a challenge to the private lender banks on loans market share, say experts.
Shares of automobile sector continued to favour the investors in view of the strong demand prevailing among the investors. Noteably, Nifty Auto Index ended one per cent higher.
The breadth of the Market was overall positive with increasing stocks outnumbering the declining ones on the National stock Exchange.
Mahindra & Mahindra, State Bank of India, Reliance Industries Ltd, ICICI Bank, IndusInd Bank, and Bharati Airtel were among the top gainers while HDFC, HDFC Bank, Titan Company, HCL Tech and ITC closed in the Red. Nifty Bank index was down 0.18 per cent while Nifty Financial Services dropped 0.7 per cent.
