Indian equity benchmarks traded flat on Tuesday, as gains in HCLTech countered a pullback in financial stocks following a three-day rally. At 10:00 a.m. IST, the Nifty 50 held its ground at 25,224.55, while the BSE Sensex edged 0.06% lower to 82,274.7.
Six of the 16 major sectors recorded gains, with the Nifty IT index rising 0.5%. Conversely, financials, banks, and private lenders each dropped about 0.2%, while state-owned banks lost 0.8%, after gains of 0.8%-2.6% in the previous three sessions. The broader small-caps and mid-caps traded flat.
HCLTech shares gained 1% after the country's third-largest software services exporter maintained its annual revenue growth forecast of 3%-5% and beat second-quarter revenue estimates. HCL Tech reported a flat net profit of Rs 4,235 crore, while revenue rose 10.7 per cent year-on-year to Rs 31,492 crore for the three months ended on September 30, 2025. The company reported a 3.5 per cent YoY growth in EBIT at Rs 5,550 crore, while EBIT margins dropped to 17.4 per cent and also declared an interim dividend of Rs 12 per share.
The metal index also gained 0.5%, tracking an uptick in global metal prices as hopes of easing trade tensions lifted market sentiment.
LG Electronics India made its stock market debut today, listing at a 50% premium over its IPO issue price of ₹1,140. The $1.3 billion IPO was oversubscribed 54 times. LG Electronics stock debuted at Rs 1,715 per share on the BSE and hit a high of Rs 1,736.4 per share, before easing a little to Rs 1,706. On the NSE, the stock debuted at Rs 1,710 per share and hit a high of Rs 1,749. With this, the market capitalization of the home-appliance maker zoomed past Rs 1 trillion.
Private lender RBL Bank rose 2% on reports of advanced talks with Dubai-based Emirates NBD for a stake sale.
According to government data released on Monday, domestic retail inflation slid to an eight-year low of 1.54% in September, strengthening the case for a potential rate cut at the Reserve Bank of India's policy meeting in December.
Siddhartha Khemka, head of research of wealth management at Motilal Oswal Financial Services, noted that there is heightened risk aversion and markets will remain range-bound, with quarterly earnings and evolving global tariff developments driving the trajectory.
Other IPOs in focus include Canara Robeco Asset Management Co IPO and Rubicon Research IPO, with their basis of allotment set to be finalised today. Canara HSBC Life Insurance Co IPO is set to close for subscription today.
