Market erases gains to end flat amid volatility; Maruti Suzuki rises 5%

Equity benchmark Sensex ended on a flat note after scaling the 53,000-mark on Tuesday as investors booked profits at higher levels. A depreciating trend in the rupee also weighed on sentiment, said traders.

After touching a lifetime intra-day peak of 53,057.11, the 30-share BSE Sensex settled 14.25 points, or 0.03 per cent higher, at 52,588.71, marking its third straight session of ga­ins. Similarly, the broader NSE Nifty rose 26.25 points, or 0.17 per cent, to close at 15,772.75. Maruti Suzuki, which was the biggest laggard in Monday's session, topped the Sensex gainers' chart on Tuesday, with a jump of 5.25 per cent. L&T, UltraTech Cement, Tata Consultancy Services, Titan, Tata Steel, and Bajaj Auto were the other winners, advancing up to 2.2 per cent. On the other hand, Asian Paints, Bajaj Finance, Nestlé India, Hindustan Unilever, IndusInd Bank, and Sun Pharmaceutical Industries were among the major laggards, dropping up to 1.91 per cent.

The markets opened strong on the back of global cues and pick-up in the pace of vaccination. Tuesday's trade saw hectic activity in stocks pertaining to the 'unlock' theme, said S Ranganathan, head of research at LKP Securit­ies. Nearing Mount 53K, however, the Sensex witnessed profit-taking across the board in afternoon trade, he observed. Vinod Nair, head of research at Geojit Financial Services, said, "During early hours, Indian markets traded strongly, following Monday's rebound in western markets, which focused on economic recovery, partially offsetting concerns over a possible change in US Federal Reserve policy in the future."