Sensex, Nifty End Flat After Volatile Session, IT Stock Gains Fail To Offset Losses In Other Sectors
Indian markets ended flat after a volatile session as gains in IT stocks were offset by losses in pharma, auto, metal and power shares. Sensex closed 78 points lower, while Nifty ended marginally down. Weak sentiment continues, with investors awaiting key global economic data and central bank decisions.
Indian markets ended flat after a volatile session as gains in IT stocks were offset by losses in pharma, auto, metal and power shares. |
Mumbai: Indian stock markets ended Thursday’s trading session on a mixed and quiet note. Gains in information technology (IT) stocks helped the market during the day, but losses in auto, metal, power and pharmaceutical shares erased most of the upside. As a result, both Sensex and Nifty closed almost flat.
Sensex Sees Wide Swings
The BSE Sensex was highly volatile and moved in a wide range of 542 points during the session. It fell to an intraday low of 84,238 before recovering sharply to touch a high of 84,780. However, buying interest weakened in the second half of the day, and the index finally closed 78 points lower at 84,482.
With this close, the Sensex ended in the red for the fourth straight session and has now lost around 785 points over the last four trading days, showing continued pressure on the market.
Nifty Ends Marginally Lower
The NSE Nifty also failed to hold on to its early gains. After hitting an intraday high of 25,902, the index slipped and ended the day just 3 points lower at 24,815.55. Market experts said the overall trend remains weak, and the 25,700 level is crucial. A clear break below this level could lead to further correction, while resistance remains near 25,900.
IT Stocks Provide Support
IT stocks were the main support for the market. TCS emerged as the top gainer on the Sensex, rising nearly 2 percent. Tech Mahindra and Infosys gained around 1.7 percent each. Other stocks like Adani Ports, HCL Technologies, and Axis Bank also closed higher.
Pressure from Pharma, Metal and Power Stocks
On the downside, Sun Pharma was the biggest loser, falling 2.7% after the US drug regulator flagged issues at its Baska manufacturing facility. Shares of Tata Steel, Power Grid, Asian Paints, Larsen & Toubro, and NTPC also ended lower.
Broader Market and Sector Trend
In the broader market, mid-cap stocks ended flat, while small-cap stocks fell 0.3%. Market breadth was negative, with nearly 2,500 shares declining compared to about 1,644 advancing shares on the BSE.
What Investors Are Watching Next
Experts said investors are now waiting for key global cues, including US core inflation data, jobless claims, and interest rate decisions from the Bank of England, European Central Bank, and Bank of Japan, to understand the market’s next direction.
RECENT STORIES
-
-
-
-
-