Indian equity markets closed Thursday’s session on a subdued note, reflecting cautious investor sentiment amid global uncertainties. The BSE Sensex slipped 78 points or 0.09% to settle at 84,482, while the NSE Nifty 50 ended nearly flat, down 3 points at 25,816. Despite the muted performance of benchmark indices, select stocks witnessed sharp movements, highlighting sector-specific trends.
Key Market Highlights
- Sensex Performance: The index traded in a narrow range throughout the day, eventually closing in the red, marking its third consecutive session of weakness.
- Nifty 50 Movement: The broader index remained largely unchanged, reflecting a lack of fresh triggers in the market.
- IndiGo Gains: Shares of InterGlobe Aviation (IndiGo) rose nearly 3%, buoyed by strong passenger traffic data and optimism around travel demand during the holiday season.
- United Spirits Declines: The stock of United Spirits fell about 2%, weighed down by profit booking and concerns over rising input costs.
- Sectoral Trends: IT stocks showed resilience, helping limit broader market losses, while banking counters remained subdued. Mid-cap indices managed to close marginally higher, whereas small-cap stocks faced selling pressure.
Broader Market Sentiment
Investor mood remained cautious as global cues offered little clarity. Concerns over U.S. Federal Reserve’s interest rate outlook and uncertainty surrounding trade negotiations between India and the U.S. kept risk appetite in check. While foreign institutional investors showed selective buying, domestic investors largely stayed on the sidelines. Analysts noted that the market is consolidating after recent highs, awaiting stronger triggers for a decisive move.
Stock-Specific Action
- IndiGo: The airline’s stock rally was supported by robust demand outlook and expectations of improved yields in the coming quarter.
- United Spirits: The decline reflected sectoral headwinds, with rising raw material costs impacting margins.
- IT Sector: Technology counters provided some relief, with renewed buying interest amid expectations of stable global demand.
- Banking Sector: Lacked momentum, with Nifty Bank closing marginally lower, reflecting investor caution.
Outlook
Market experts suggest that indices may continue to trade in a range until fresh domestic or global cues emerge. Resistance for the Sensex is seen near 84,900, while support lies around 84,000. For Nifty, the 25,800–25,900 zone remains crucial for near-term direction.
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