Sensex, Nifty End Flat; Oil & Gas, PSU Banks Lead Gains
Indian equity benchmarks closed nearly flat today, with the Sensex and Nifty showing minimal movement after a range-bound session. The Sensex settled at 80,364.94, down 61.52 points, while the Nifty50 slipped 19.80 points to close at 24,634.90. Despite early optimism, mixed global cues and sector-specific trends kept traders cautious.
Sectoral Performance
Oil & Gas stocks led the gains, supported by strong operational updates and renewed interest in exploration. PSU banks also saw buying interest, with select names attracting domestic institutional flows. On the downside, FMCG stocks dragged the indices lower, led by Hindustan Unilever Ltd., which declined due to demand-side concerns. IT and discretionary stocks remained soft, reflecting global demand worries.
Market Sentiment and Global Cues
Global markets offered little direction, with U.S. equities ending cautiously and Asian peers mirroring the subdued tone. Domestically, investors remained on edge ahead of the RBI’s monetary policy meeting, which concludes on October 1. Foreign Institutional Investors (FIIs) showed muted activity, while domestic institutions selectively supported energy and financial counters.
Broader Market Trends
Mid-cap and small-cap indices showed more volatility than benchmarks. Market breadth was mixed, with 1,926 stocks advancing and 2,268 declining on the BSE. India VIX fell 1.68 percent to 11.23, indicating stable near-term volatility. Technical charts suggest Nifty support at 24,600 and resistance near 24,750, while Sensex is expected to move within the 80,250–80,900 range.
IPO and Listing Buzz
New listings like Ganesh Consumer Products and Atlanta Electricals saw mixed debuts. Ganesh traded below its issue price, while Atlanta showed a premium. Meanwhile, Pace Digitek’s IPO was subscribed 0.43 times by market close.
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