Sensex remained rangebound and closed lower for the third session in a row

Mumbai: The main index of the Indian stock market, Sensex, remained range-bound on Tuesday and finally closed down amid the meeting of the European Central Bank, the Bank of Japan and the European Central Bank, including the American Federal Reserve. While Nifty50 closed with a slight improvement. The decline in Sensex on Tuesday was slower than in the last two sessions, indicating that the market is consolidating at current levels. Asian stock markets were supported by signs of more stimulus by China. The market is also eyeing the results of companies as the June quarter results season is in full swing. The BSE Sensex fell 29.07 to 66355.71. The Sensex fluctuated between a high of 66559.29 and a low of 66177.62. The Nifty50 index bounced between a low of 19615.95 and a high of 19729.35, finally closing 8.25 points higher at 19680.60 from the previous close. Market breadth on BSE remained negative. 1672 stock prices closed higher while 1877 prices declined. 131 share prices remained stable.

Cement stocks rise: Attraction in Ultratech, ACC, Ambuja, Shree Cement

In addition to reports of strong increase in residential construction activity and high demand in the country, investors were attracted to cement stocks considering the government's emphasis on spending on the infrastructure sector. On the NSE, Ultratech Cement rose 173.45 to 8393.30, ACC rose by Rs 87.15 to Rs 1891.75, Ambuja Cement rose by Rs 17.35 to Rs 440.10, Shree Cement rose by Rs 444 to Rs 23681 while Dalmia rose by Rs 8.20 to Rs 1908. were closed.

Nifty Metal Index rises 188 points to 6583: Jindal Steel, Tata Steel, Hindalco rise

Steel stocks rose on expectations of China's assurance of more stimulus announcements for steel demand. There is a huge demand for Indian steel in China. After the results of the June quarter, Tata Steel rose by Rs 3.75 to Rs 119, Jindal Steel rose by Rs 35 to Rs 664, Hindalco rose by Rs 16.55 to close at Rs 449.50. Nelco rose by Rs 2.70 to Rs 94.85, SAIL rose by Rs 2.35 to close at Rs 92.25.

FMCG stocks mixed: Jubilant, Marico, Godrej, Dabur rose while ITC, HUL declined

Fast moving consumer goods (FMCG) stocks were mixed on reports of crop damage due to low rainfall in some parts of the country and heavy rain in some places. Margins of FMCG companies are expected to come under pressure due to high prices of grains and vegetables, especially tomatoes. Jubilant Food rose by Rs 9.65 to close at Rs 476.65 amid June quarter results. Marico rose by Rs 5.20 to Rs 540 and Colgate rose by Rs 10.45 to close at Rs 1899. ITC closed down Rs 9 at Rs 462 after the demerger announcement of hotel business. Godrej Consumer fell by Rs 1.55 to Rs 1034. HUL closed down by Rs 12 at Rs 2568.

Reliance, Infosys, Kotak Mahindra declined while HDFC Bank, Power Grid, TCS rose.

Reliance's bearish trend is seen after weak June quarter results announced last week. The share price fell by Rs 2.85 to close at Rs 2484. Infosys fell by Rs 2.65 to close at Rs 1,334 following weak guidance. Kotak Mahindra fell by Rs 21.15 to Rs 1875. Excise Bank fell by Rs 8.70 to Rs 962. On the other hand, HDFC Bank increased by Rs 17.55 to Rs 1696.40, Power Grid rose by Rs 3.75 to Rs 251 while TCS closed by Rs 4.85 to Rs 3399.

FIIs net buying while DIIs selling: Market cap rises to Rs. 302 lakh crores

In the Indian stock market, foreign institutional investors (FIIs) made net purchases of Rs 1,088.76 crore on Tuesday, while foreign institutional investors (DIIs) posted net sales of Rs 333.70 crore. The market cap increased by Rs 67727 crore to Rs 302.65 lakh crore.