Bank stocks surge as indices end on flat note

A day after making biggest single-day high in almost two years, the markets cooled down on Monday.  The BSE Sensex fell 61.16 points or -0.18% to hit 33856.78, while Nifty ended flat at 10426.85, rising 5.45 points or 0.05%.

Information Technology (IT) stocks dragged the markets down most as the index fell 1.56% on BSE and 1.46% on NSE, while FMCG index fell 0.22%.

Apart from these two sub-indices on NSE, all the other sectors ended at the green zone. Nifty PSU Banks took the pole position among sectors, gaining 2.33% on Tuesday.

Among the BSE sectoral indices, Teck (-1.06%) was another loser apart from IT and FMCG. BSE Telecom (1.78%) was the top gaining stock.

Tata Consultancy Services (TCS) was the biggest laggard on both the indices slumping as much as 5.22% following its block deal. Apollo Hospitals, Prestige, Crompton and Syngene were the other losers on BSE, falling as much as 2.91%. Among the Sensex pack,  Axis Bank, Sun Pharma, Wipro, Dr Reddy’s and Bharti Airtel rose as much as 2.23%.

The broader market ended in green with the BSE mid-cap and BSE small-cap indices surging 1% and 1.14%, respectively.

Meanwhile, both foreign portfolio investors (FPI) and domestic institutional investor (DII) bought shares worth Rs 7,028.42 crore and Rs 1,613.39 crore on Tuesday.