Stock market update: Nifty holds above 25,100; IT, Metal stocks lift sentiment while banks lag

Indian equity benchmarks remained range-bound in Tuesday’s afternoon trade, reflecting mixed sentiment across sectors. As of 2:31 PM IST, the Nifty 50 was up 18.50 points (0.07 percent) at 25,121.70, holding above the 25,100 mark. The BSE Sensex hovered flat, inching up just 0.38 points to 82,445.59, indicating muted investor activity.

Sectoral trends were mixed, with IT, metal, and pharma stocks leading the gains, while PSU banks and realty shares dragged. The Nifty IT index rose 1.68 percent, emerging as the top sectoral performer, powered by gains in Tech Mahindra, Infosys, and HCL Technologies.

Grasim Industries was the day’s biggest gainer on the Nifty, rallying 3.85 percent to Rs. 2,708.80. Other key contributors to the upside included Dr Reddy’s Labs, Tech Mahindra, and Infosys. Meanwhile, Trent was the top laggard, slipping 1.48 percent to Rs. 5,826, along with Asian Paints, Eicher Motors, and SBI Life Insurance.

The Nifty PSU Bank index declined 0.64 percent, making it the worst-performing sector, followed by a 0.5 percent drop in the realty segment. The Nifty Bank index also traded in the red, down 0.37 percent at 56,631.85, weighed by losses in ICICI Bank and other private lenders.

Broader markets remained largely flat, with the BSE Midcap and Smallcap indices showing limited movement. Market breadth on the NSE was marginally in favor of advancers, but overall momentum remained muted.

Despite strong gains in benchmark indices over the past few weeks, analysts noted that investor caution is resurfacing amid high valuations, mixed global cues, and sectoral rotations. With U.S. inflation data due later tonight, global sentiment could influence direction in the next session.

Technical analysts suggest that a sustained move above the 25,150 level on the Nifty could open the door to short-term bullish continuation, but consolidation remains likely in the near term.