Benchmark index Nifty 50 closed flat on Tuesday, struggling to hold the 25,800 level due to declines in major indices, primarily driven by heavyweights Reliance Industries (RIL) and IndusInd Bank.

The Nifty 50 dropped 13.95 points to close at 25,796.90, while the Sensex fell 33.49 points to finish at 84,266.29.

IT stocks supported the Nifty, with Tech Mahindra leading the gains, rising 3% on a positive brokerage report.

The Nifty Midcap 100 index increased by 204.50 points to reach 60,358.30, while the Nifty Bank declined by 55.50 points, ending at 52,922.60.

In the automotive sector, stocks mostly closed lower after disappointing monthly sales figures. Bajaj Auto fell 2% despite strong sales, while Tata Motors dropped 1% due to below-estimate September sales. Mahindra & Mahindra, however, gained 2% on the back of healthy sales and a positive outlook.

Upstream oil company stocks declined amid weak crude prices, with ONGC losing 2%. Gold lenders Manappuram and Muthoot fell 3-4% after the RBI highlighted significant irregularities in the gold loan sector and called for immediate action.

Among individual gainers, discount brokerage Angel One rose 7% after revising brokerage charges for cash and equity delivery transactions, effective 1st November.

Airlines IndiGo and SpiceJet saw increases of 2.4% and 7%, respectively, following reduced aviation turbine fuel (ATF) prices.

Karur Vysya Bank announced its business update for Q2 FY2024, reporting total advances of Rs 80,296 crore as of 30th September 2024, a 14% year-over-year increase. The bank was last seen trading flat at Rs 214.48 per share.

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