Business

Indian Stock Markets Close Flat Amid Mixed Global Cues

India’s domestic benchmark indices closed largely unchanged on Wednesday, as global cues remained muted. Selling pressure was visible across several sectors, including auto, PSU Bank, financial services, pharma, metal, and real estate. Despite a volatile trading session, the indices showed resilience toward the end.

The Sensex ended the day at 78,148.49, marking a decline of 50.62 points, or 0.06%. Similarly, the Nifty closed at 23,688.95, down by 18.95 points, or 0.08%. While both indices saw marginal losses, they managed to recover from lower levels during the session.

The market witnessed some selling pressure, particularly from the Bank Nifty, which ended at 49,835, down by 367.10 points or 0.73%. Additionally, the Nifty Midcap 100 index fell by 1.05%, closing at 56,270.60 after losing 598.70 points. The Nifty Smallcap 100 index saw an even steeper decline, dropping 1.65% to 18,365.65, down by 307.80 points.

Market Breadth Reflects Weakness

On the Bombay Stock Exchange (BSE), market breadth was skewed to the negative side. A total of 1,390 shares closed in the green, while 2,582 shares ended in the red. Additionally, 94 stocks saw no change in their value.

Also Read: Adani Sportsline Hosts Exclusive Pickleball Tournament For Ahmedabad’s Radio Professionals

Despite the overall market weakness, certain sectors showed resilience. The IT and FMCG segments were among the top gainers, with several stocks in these sectors managing to post positive returns.

Volatility Driven By Economic Concerns And Q3 Earnings

Market experts pointed to slowing economic growth projections and caution ahead of the Q3 earnings reports as key factors contributing to the volatility in the markets. However, experts noted that the market showed signs of recovery from the day’s lows, driven by the accumulation of beaten-down blue-chip stocks. Investors are also hoping for government reforms in the upcoming budget to help stimulate the economy.

Looking ahead, experts suggest that the near-term sentiment could remain subdued due to rising US bond yields and concerns about fewer rate cuts by the US Federal Reserve. These factors could continue to weigh on global markets, impacting investor sentiment in India as well.

Top Gainers And Losers In The Sensex Pack

In the Sensex pack, the biggest losers included UltraTech Cement, L&T, Sun Pharma, HDFC Bank, ICICI Bank, NTPC, SBI, Zomato, Titan, Tata Steel, and M&M. On the other hand, the top gainers were TCS, ITC, Asian Paints, HCL Tech, Maruti Suzuki, Bharti Airtel, Axis Bank, Bajaj Finserv, Hindustan Unilever, PowerGrid, Nestle India, and Tata Motors.

Foreign Institutional Investors (FIIs) sold equities worth Rs 1,491.46 crore on January 7. In contrast, Domestic Institutional Investors (DIIs) were net buyers, purchasing equities worth Rs 1,615.28 crore on the same day.

As the markets continue to navigate economic uncertainties and expectations surrounding Q3 results, investor sentiment remains cautious, with a watchful eye on global developments.

Richa Kaushik

Recent Posts

Indian Stock Market Rises, Pharma & Auto Sectors Drive Growth

Indian stock markets opened higher on March 17, with gains in pharma and auto sectors,…

36 mins ago

Karan Johar & Kartik Aaryan Reconcile With Epic Rap Battle At IIFA

Bollywood stars Karan Johar and Kartik Aaryan, once at odds, engage in a playful rap…

1 hour ago

Intuitive Eating: A Path To Healthier Relationship With Food

Intuitive Eating is a revolutionary approach to food and health that focuses on listening to…

3 hours ago

Who Is Lex Fridman? AI Expert And Researcher Hosts PM Modi For A Powerful Conversation

Prime Minister Narendra Modi appeared as a guest on the Lex Fridman Podcast on Sunday…

13 hours ago

‘Asia’s Century’: Modi Calls For Cooperation Between India And China

Prime Minister Narendra Modi emphasized the importance of strengthening India-China relations and resolving border tensions…

13 hours ago

PM Modi Credits RSS For Shaping His Life And Instilling A Spirit Of Service

Prime Minister Narendra Modi credited the Rashtriya Swayamsevak Sangh (RSS) for shaping his life and…

13 hours ago