Indian equity markets ended largely unchanged on Thursday as investors adopted a cautious approach ahead of the Reserve Bank of India’s Monetary Policy Committee (MPC) decision, scheduled to be announced on Friday.
The BSE Sensex edged up 13.84 points, or 0.02 per cent, to close at 74,360.01, while the NSE Nifty gained 10.95 points, or 0.05 per cent, to settle at 23,416.55.
Market participants largely remained on the sidelines as they awaited clarity on the central bank’s stance on interest rates and liquidity conditions.
Analysts identified the 23,500 mark as a crucial level for the Nifty’s short-term direction. A sustained move above this zone could improve market sentiment and open the path towards higher levels.
On the downside, support remains around the 23,300-23,350 range, with stronger buying interest emerging near the 23,150-23,200 zone.
Despite modest gains in the benchmark indices, broader markets outperformed.
The Nifty MidCap index rose 0.46 per cent, while the Nifty SmallCap index advanced 0.49 per cent, reflecting continued investor interest in mid- and small-cap stocks.
Among the major laggards, Infosys, Bajaj Finserv and Hindalco Industries weighed on the benchmarks, limiting overall gains during the session.
Weakness in select heavyweight stocks kept market advances in check.
Sector-wise, performance remained mixed. The Nifty IT, Metal, and Chemical indices underperformed, reflecting pressure on export-oriented and commodity-linked sectors.
In contrast, consumer-focused segments attracted buying interest, with the Nifty Consumer Durables and Nifty Media indices emerging among the top gainers.
Investors now await the RBI’s policy announcement for guidance on the future interest rate trajectory and liquidity measures.
The outcome is likely to play a key role in shaping market sentiment and determining the near-term direction of Indian equities.
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