Benchmark equity indices Sensex and Nifty concluded Wednesday's trading session almost unchanged, navigating a volatile and range-bound market environment. Gains in PSU banking and automobile stocks were effectively neutralized by significant weakness in information technology shares, leading to a largely flat close for the major indices.
Index Performance Details
The 30-share BSE Sensex experienced a minor decline, slipping 40.28 points, or 0.05 percent, to settle at 84,233.64. Throughout the session, the index exhibited volatility, touching an intraday high of 84,487.34 and a low of 84,081.25. Conversely, the broader NSE Nifty edged slightly higher, gaining 18.70 points, or 0.07 percent, to close at 25,953.85.
Top Gainers and Losers
The market movement was characterized by distinct sectoral trends. On the Nifty50, top gainers included Eicher Motors, which surged 6.52 percent, Apollo Hospital rising 3.99 percent, and State Bank of India (SBI) climbing 3.40 percent. Other notable gainers were Max Healthcare, Maruti Suzuki, Tata Motors, Dr. Reddy's, InterGlobe Aviation, Bajaj Auto, and ONGC.
In contrast, the Nifty50's top losers were led by Tata Consultancy Services (TCS), which fell 2.51 percent, followed by Coal India Ltd declining 1.79 percent, and Infosys dropping 1.73 percent. Other decliners included HCL Technologies, Eternal, ITC, Grasim Industries, Wipro, Axis Bank, and Tech Mahindra.
For the BSE Sensex, top gainers featured SBI up 3.40 percent, Maruti Suzuki gaining 1.76 percent, and InterGlobe Aviation rising 1.08 percent. The losers' list mirrored the Nifty trend, with TCS, Infosys, HCL Technologies, Eternal, and ITC leading the declines.
Expert Analysis on Market Trends
Vinod Nair, Head of Research at Geojit Investments Ltd, provided insights into the market dynamics. He stated that domestic markets could enter a phase of near-term consolidation following the recent rally. "Domestic equities may experience a brief consolidation period after this week's strong performance, which was driven by optimism surrounding the US-India trade deal. Investor focus has now shifted towards mixed third-quarter earnings results, upcoming monthly inflation data, and the finer details of the trade agreement, which is reportedly nearing finalization," Nair explained.
Sectoral Performance and Global Influences
Nair highlighted that sectoral trends were influenced by earnings momentum and global cues. "Strength in the automobile and healthcare sectors reflects better-than-expected corporate earnings, while the information technology sector underperformed due to a global selloff linked to artificial intelligence-related volatility. Broader markets also lagged, with Midcap and Smallcap indices posting modest declines," he added.
Commenting on global sentiment, Nair noted, "Globally, market sentiment remained cautious due to weak US retail sales data and persistent disruptions related to AI advancements, keeping investors risk-averse ahead of key US employment figures."
Foreign Institutional Investor Activity
On a positive note, Nair pointed to improving foreign fund flows. "Meanwhile, domestic markets have begun to benefit from enhancing FII flows, which have turned positive and are expected to continue due to upward revisions in GDP forecasts and a moderation in India's market valuations," he stated.
Global and Commodity Market Overview
In Asian markets, South Korea's Kospi, Hong Kong's Hang Seng, and China's Shanghai SSE Composite index closed higher, while Japanese markets remained shut for National Foundation Day. European markets were trading mostly lower during mid-session deals, and US markets ended lower on Tuesday.
In the commodities segment, Brent crude, the global oil benchmark, rose 1.44 percent to USD 69.78 per barrel.
Institutional Investment Data
According to exchange data, foreign institutional investors (FIIs) purchased equities worth Rs 69.45 crore on Tuesday, while domestic institutional investors bought stocks worth Rs 1,174.21 crore.
Previous Session Recap
In the prior trading session on Tuesday, the BSE Sensex had gained 208.17 points to close at 84,273.92, while the NSE Nifty rose 67.85 points to end at 25,935.15.
