Benchmark domestic equity indices wrapped up Thursday’s session on a subdued note, reflecting cautious investor sentiment during a holiday-shortened trading week. After a choppy day marked by alternating gains and losses, both the Sensex and Nifty managed to eke out modest gains.
- Sensex rose by 58 points, closing at 80,598
- Nifty added 12 points, settling at 24,631
Despite the marginal uptick in headline indices, broader market performance lagged. The BSE Mid-Cap index slipped 0.2%, while the Small-Cap index declined 0.6%, indicating weakness in non-frontline stocks.
Mixed Bag for Sensex Constituents: More Losers Than Gainers
Out of the 30 stocks in the Sensex pack, 16 ended in the red, reflecting sectoral divergence and profit booking.
Top Laggards:
- Tata Steel: -3.1%
- Tech Mahindra: -1.6%
- Adani Ports: -1.3%
Top Gainers: - Eternal: +1.9%
- Infosys: +1.5%
- Asian Paints: +1.1%
The tech sector showed resilience, with Infosys leading gains, while metal stocks bore the brunt of selling pressure.
Sectoral Snapshot: Metals and Energy Drag, Consumer Durables Shine
Out of 21 sectoral indices on the BSE, 13 closed in negative territory, underscoring the uneven market sentiment.
Sectoral Laggards:
- Metal: -1.4%
- Oil & Gas: -1.2%
- Energy: -1.0%
Sectoral Gainers: - Consumer Durables: +0.8%
- Focused IT: +0.4%
- IT & Tech: +0.4% each
The Consumer Durables sector outperformed, buoyed by strong demand trends and optimism around festive season sales.
Market Breadth Turns Negative
The overall market breadth at the Bombay Stock Exchange was decisively negative:
- Declining stocks: 2,320
- Advancing stocks: 1,742
- Unchanged: 153
This skewed breadth highlights the underlying weakness in broader market sentiment, despite the marginal gains in benchmark indices.
Investor Outlook: Caution Prevails Ahead of Key Economic Data
With global cues remaining mixed and domestic investors awaiting inflation and industrial output data, the market is likely to remain range-bound in the near term. The flat close today reflects a wait-and-watch approach, typical of truncated trading weeks.
Stay tuned for more updates as macroeconomic indicators and earnings season continue to shape market direction.
