Indian Equity Indices See Mixed Performance Amid Sectoral Gains & Losses

Indian equity indices exhibited mixed performance on Thursday, opening in positive territory but trading flat soon after.

By 9:40 AM, the Sensex had dipped by 10 points to 79,914, while the Nifty managed a slight gain of 8 points, reaching 24,332.

This marks the second consecutive day the Sensex remains below the 80,000 mark.

Investors showed strong interest in small-cap and mid-cap stocks.

The Nifty Midcap 100 index climbed 281 points, or 0.49%, to 57,200, while the Nifty Smallcap 100 index rose by 93 points, or 0.50%, to 18,887.

Sector-wise, the Auto, IT, PSU Bank, Metal, PSE, and Media indices were the major gainers.

Conversely, the Fin Service, Pharma, FMCG, and Realty sectors lagged.

Prominent gainers in the Sensex pack included TCS, Tata Motors, Tata Steel, HCL Tech, Infosys, SBI, Titan, Maruti Suzuki, L&T, ICICI Bank, and Bharti Airtel.

On the other hand, Sun Pharma, M&M, HDFC Bank, Nestle, and HUL emerged as the top losers.

Foreign institutional investors (FIIs) continued their buying spree, acquiring equities worth Rs 584 crore on 10 July.

Domestic institutional investors (DIIs) also contributed to the market activity, purchasing equities worth Rs 1,082.4 crore on the same day.

Deven Mehata, Research Analyst at Choice Broking, commented on the market’s technical outlook: “Nifty can find support at 24,300, followed by 24,200 and 24,150. On the higher side, 24,400 can act as an immediate resistance, followed by 24,450 and 24,500.”

Asian markets displayed a positive trend, with bullish sentiment in Tokyo, Hong Kong, Seoul, Shanghai, and Jakarta.

The Bangkok share market was the sole outlier, trading with a decline.

US markets closed on a positive note in Wednesday’s session.

In the commodities market, Brent crude was priced at $85.76 per barrel, while WTI crude stood at $82.72 per barrel.

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