India's benchmarks settle flat as gains in state-owned lenders offset metals losses
The Nifty 50 rose 0.06% to 25,212.05, while the Sensex gained 0.08% to 82,634.48.
Both benchmarks fell about 0.2% during the session, before erasing losses in afternoon trade.
Asian peers inched lower, with the MSCI Asia ex Japan index dropping 0.3% after data showed a modest rise in U.S. inflation, dampening hopes of imminent rate cuts and posing risks for capital flows into emerging markets such as India.
'Markets have had a strong run from March to June. But with uncertainty around the U.S.-India trade deal and mixed signals from the earnings season, we expect benchmarks to remain range-bound in the near term,' said Amnish Aggarwal, director of research, institutional equities at PL Capital.
India's HCLTech slides on lower annual operating margin forecast
Global brokerage Bernstein echoed that view, retaining its year-end Nifty target of 26,500 — about 5% above current levels — and forecasting short-term consolidation.
Nine of the 13 major sectors logged gains. The broader small-caps and mid-caps traded flat.
The PSU Bank index climbed 1.8%, led by about 2% gain in SBI, which approved raising up to 200 billion rupees via bonds for fiscal 2026.
The metal index fell 0.5% after the U.S. dollar rose. A stronger dollar makes commodities costlier for holders of other currencies.
Among individual stocks, ITC Hotels surged 4.5% after reporting a quarterly profit rise.
Network18 Media & Investments climbed 13.3%, lifting the media index 1.3% higher, after it reported turning a profit following 12 quarters of losses.
HDB Financial lost 3.1% after posting a profit drop in the June quarter, hurt by higher bad loan provisions.
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