Indian stock indices closed on a subdued note on Wednesday, snapping a three-session winning run as traders turned cautious ahead of the release of Consumer Price Index (CPI) inflation data.
The BSE Sensex slipped 40 points, or 0.05 per cent, to finish at 84,233. In contrast, the Nifty 50 edged up 18 points, or 0.07 per cent, ending the day at 25,953.
Broader indices mirrored the muted trend seen in frontline benchmarks.
The Nifty Midcap 100 rose 0.03 per cent, while the NSE Smallcap 100 gained 0.02 per cent.
Market breadth on the BSE remained weak, with 2,259 shares declining compared to 1,701 advancing.
Among other indices, the Nifty Next 50 advanced 0.55 per cent, and the Nifty Financial Services climbed 0.32 per cent.
Sectoral performance was largely positive, barring information technology and private banks.
The Nifty IT emerged as the biggest laggard, dropping 1.76 per cent. On the upside, the Nifty Auto rallied 1.30 per cent, the Nifty Pharma gained 1.01 per cent, and the Nifty PSU Bank added 1.03 per cent.
In currency markets, the rupee weakened marginally to 90.68 against the US dollar. It slipped 0.13 paise and continued to trade within a narrow band amid mixed global signals.
Elevated crude oil prices, particularly with higher imports from Western markets, are seen as a potential risk to the trade balance and could exert pressure on the domestic currency.
Analysts, however, noted that the Nifty 50 remains confined within a tight range. Stock-specific movements are dominating trading activity. A decisive breakout would be required to shift the broader trend.
The NIFTY Bank ended slightly higher near 60,750, holding above the key support level of 60,500.
Market participants indicated that the index maintains a positive undertone but requires a sustained move above 60,800 to trigger stronger upward momentum.
On a monthly basis, the Nifty 50 declined 3.10 per cent in January, though it has gained 7.71 per cent over the past year. The Nifty 500 was flat for January and posted an annual rise of 6.94 per cent.
Mid-cap and small-cap indices ended January in negative territory. They registered losses ranging from 3.53 per cent to 5.52 per cent.
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