The Indian stock market wrapped up Thursday’s trading session with slight gains as investors braced for the much-anticipated second-quarter (Q2) results from Tata Consultancy Services (TCS), the country’s largest IT services company, expected later in the day.
Market watchers are also keeping a close eye on the forthcoming inflation data from the United States, set to release after trading hours, which could have significant implications for global markets.
At the close of trading, the Sensex climbed by 144 points, or 0.18%, reaching 81,611. The Nifty index finished at 24,998, up 16 points, or 0.07%.
The Nifty Bank index showed robust performance, closing at 51,530 with a gain of 523 points, or 1.03%, driven by a surge in banking stocks.
Among the leading gainers in the Sensex index were Kotak Mahindra Bank, JSW Steel, HDFC Bank, Power Grid, IndusInd Bank, Maruti Suzuki, NTPC, Axis Bank, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, Tata Steel, ITC, Bajaj Finance, and Tata Steel.
Conversely, Tech Mahindra, Sun Pharma, Infosys, Titan, Wipro, Tata Motors, Larsen & Toubro, TCS, Hindustan Unilever, Asian Paints, and Reliance saw declines.
Small and mid-cap stocks performed mixed. The Nifty Midcap 100 index ended at 58,935, down 166 points, or 0.28%, while the Nifty Smallcap 100 index gained 35 points, or 0.19%, closing at 18,900.
Sector-wise, stocks in the Auto, Financial Services, Metals, Energy, Private Banking, and Commodities sectors showed the most significant gains, while IT, PSU Banks, Pharmaceuticals, FMCG, Realty, and Media sectors faced the steepest declines.
Overall, the market sentiment leaned positive. On the Bombay Stock Exchange (BSE), 2,259 shares rose, while 1,654 fell, with 133 remaining unchanged.
Cautious Trading Prevails Amid Q2 Earnings Season
Market analysts noted a cautious trading environment, as the indices exhibited a range-bound pattern amid negative sentiment leading up to the Q2 earnings season.
While the Asian markets opened on a strong note, they struggled to maintain momentum, particularly as European markets began trading on a negative trajectory, driven by rising global bond yields.
Experts observed that broader domestic market conditions were mixed, with a prevailing sense of caution, as expectations for Q2 FY25 results appear subdued due to a lackluster performance in global markets and rural demand.
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