Nifty gains for record fourteenth straight session led by banks

The National Stock Exchange benchmark index gained for a record fourteenth session in a row on Tuesday albeit the markets ended on a flat note as gains in financial heavyweights like HDFC Bank, ICICI Bank, Bajaj Finserv and State Bank of India were offset with losses in Infosys, Reliance Industries, Bharti Airtel, Bajaj Finance and HCL Technologies.

The Sensex ended 4 points lower at 82,555 and Nifty 50 index gained 1 point to close at 25,280.

Meanwhile, most of European stocks struggled for direction on Tuesday as investors remained cautious ahead of a raft of economic data in the run-up to the all-important US jobs report on Friday, while German stocks hit all-time highs.

The pan-European STOXX 600 index was flat, with German stocks inching 0.2 per cent higher to hit a record peak, building on the positive momentum on interest rates after inflation eased.

Back home, nine of 13 sector gauges compiled by the National Stock Exchange ended lower led by the Nifty Media index's 1.44 per cent fall. Nifty Oil & Gas, Realty, Metal, IT, FMCG and Auto indices also ended lower.

On the other hand, banking, consumer durables and financial services shares witnessed buying interest.

Mid- and small-cap shares outperformed their larger peers as Nifty Midcap 100 index rose 0.25 per cent and Nifty Smallcap 100 index advanced 0.43 per cent.

Among the individual shares, Premier Energies made a bumper stock market debut as the stock opened for trading at Rs 991 on the BSE, marking an upside of 120 per cent from IPO price of Rs 450.

Kaynes Technology rose as much as 8 per cent after following the company's announcement of receiving nod from the Union Cabinet for setting up a semiconductor manufacturing unit. The approval, granted to its wholly owned subsidiary, Kaynes Semicon Pvt Ltd, marks a major milestone in India's growing semiconductor ecosystem.

SBI Life was top Nifty gainer, the stock rose 1.72 per cent to Rs 1,921. Bajaj Finserv, ICICI Bank, HDFC Life, Hero MotoCorp, Shriram Finance, Titan, Nestle India, HDFC Bank and Divi's Labs also rose between 0.6-1.4 per cent.

On the flipside, Bajaj Finance, ONGC, Infosys, Adani Ports, HCL Technologies, JSW Steel, Bharat Petroleum, Bajaj Auto and Hindalco were among the losers.

The overall market breadth was neutral as 1,999 shares ended higher while 1,937 closed lower on the BSE.