In a session marked by significant volatility, Indian equity benchmarks ended largely unchanged on Thursday.
The Sensex closed at 79,897, down 27 points, while the Nifty concluded at 24,315, shedding 8 points.
Despite the lackluster performance of large-cap stocks, midcap and small-cap stocks exhibited a strong buying trend.
The Nifty Midcap 100 index rose by 227 points or 0.40% to close at 57,148, and the Nifty Smallcap 100 index increased by 129 points or 0.69%, finishing at 18,919.
Within the Sensex pack, 16 stocks posted gains while 14 ended in the red.
Notable gainers included ITC, Tata Motors, Asian Paints, Titan, SBI, Tata Steel, IndusInd Bank, Axis Bank, and HCL Tech.
Conversely, Bajaj Finance, M&M, Sun Pharma, Nestle, NTPC, and Power Grid emerged as the top losers.
The market opened flat and remained so throughout the trading day. The Sensex reached an intraday high of 80,170 and dipped to a low of 79,464.
Among the sectoral indices, Media, PSE, Commodity, and Oil & Gas recorded notable gains.
In contrast, Realty, Pharma, and Auto sectors were the major laggards.
Rupak De, Senior Technical Analyst at LKP Securities, commented on the day’s market movements, “The Nifty remained volatile throughout the day before closing flat. In the near term, the Nifty might trade sideways, with 24,150 and 24,400 acting as the key levels. A decisive fall below 24,150 might trigger panic in the market, while a decisive move above 24,400 might induce a rally towards 24,650.”
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