Markets End Little Changed As Auto Stocks Gain; Broader Indices Stay Firm

Indian equity markets finished almost unchanged on Thursday after a range-bound trading session, although broader market segments and automobile shares continued to attract investor interest.

The NSE Nifty closed marginally lower by 4.30 points at 24,326.65, while the BSE Sensex fell 114 points to settle at 77,844.52.

Market participants remained cautious through the session. Investors continued tracking developments linked to the ongoing diplomatic situation involving the United States and Iran.

Analysts said the market continues to face resistance in the 24,400–24,500 range on the Nifty.

According to technical experts, a sustained move above this zone could strengthen bullish momentum and push the index towards the 24,600 mark.

The experts added that the 24,100–24,000 zone remains an important support area that could cushion markets if selling pressure increases.

Among the major losers on the Nifty were Hindustan Unilever, Tata Consultancy Services and Titan Company, which dragged the benchmark indices lower.

The broader market remained relatively stronger. The Nifty MidCap index gained 1.20 per cent, while the Nifty SmallCap index ended nearly 1 per cent higher.

Sector-wise, automobile stocks led the gains during the session. On the other hand, FMCG, IT and consumer durable shares underperformed.

Experts said market volatility is likely to continue in the near term. Investor sentiment remains closely tied to geopolitical developments in West Asia, particularly Iran’s response to the US peace proposal. Analysts are also monitoring progress related to the reopening of the Strait of Hormuz.

Global crude oil prices declined sharply during the day. Reports suggested that the US and Iran had moved closer to an agreement. The deal could eventually end the blockade and restore shipping activity through the Strait of Hormuz.

Brent crude futures dropped below $99 per barrel following the reports.

The Indian rupee strengthened against the US dollar and traded near the 94.24 level. Improving global risk sentiment linked to the ongoing diplomatic talks supported the currency.

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