The market ended on a flat note for the second straight day on June 2. The last hour buying helped counter the losses made through the day. At close, the Sensex was down 85.40 points, or 0.16%, at 51,849.48, and the Nifty was up 1.30 points, or 0.01%, at 15,576.20.
“Indices staged a smart recovery in late afternoon after being in the red for most part of the day. Broader markets, too, displayed resilience as we saw buying in state-owned banks, auto ancillaries and in unlocking themes across sectors,” said S Ranganathan, Head of Research at LKP securities.
Nifty auto, metal, energy and PSU Bank indices rose 1-3 percent. BSE Midcap and Smallcap indices added over 1 percent each.
UPL, Tata Steel, SBI Life Insurance, IndusInd Bank and Adani Ports were among major gainers on the Nifty, while losers included ITC, Tech Mahindra, Axis Bank, Asian Paints and Kotak Mahindra Bank.
Stocks & sectors
On BSE, power, realty, metal and auto indices added over 1 percent each, while selling was seen in the IT and FMCG names.
Among individual stocks, a volume spike of more than 100 percent was seen in PNB, Motherson Sumi and Muthoot Finance.
Long buildup was seen in Motherson Sumi, Muthoot Finance and Gujarat Gas, while short buildup was seen in Aarti Industries, ITC and L&T Infotech.
More than 300 stocks, including Lupin, Marico, PNB Housing, Jindal Saw, hit a fresh 52-week high on the BSE.
Nifty formed a bullish hammer sort of candle on daily scale which indicates that every small decline is being bought in the market.
“Nifty has to hold above 15,500 zones to witness an up move towards fresh life time high of 15,750 zones while on the downside support exists at 15,431 and 15,300 zones,” said Chandan Taparia of Motilal Oswal Financial Services.