Benchmark indices Sensex and Nifty ended the volatile session almost flat as better-than-expected GDP growth underscores the resilience of domestic demand and the broader economy. The 30-share BSE Sensex closed 12.99 points or 0.02 per cent lower at 76,944.28. During the day, the benchmark hit a high of 777,231.87 and a low of 76,656.12, gyrating 575.75 points. The 50-share NSE Nifty shed 24.60 points or 0.10 per cent to end the session at 24,055.80. Similarly, the broader market ended the session in the red. While the BSE MidCap Select Index dropped 113.99 points or 0.60 per cent, the BSE SmallCap Select Index ended with a fall of 36.83 points or 0.40 per cent.
Among sectoral indices, Nifty IT and Nifty FMCG gained 0.98 per cent and 0.94 per cent, respectively. On the other hand, Nifty Pharma and Nifty Realty fell 1.45 per cent and 1.42 per cent, respectively.
“Markets are increasingly balancing India’s strong growth momentum against mounting global uncertainties. Better-than-expected GDP growth underscores the resilience of domestic demand and the broader economy. However, escalating geopolitical tensions in the Middle East and a more hawkish Federal Reserve have renewed concerns about inflation and the prospect of elevated interest rates for an extended period. Persistent cost pressures may weigh on both corporate earnings and the pace of demand recovery. At the same time, higher U.S. bond yields and renewed foreign capital outflows have kept investor sentiment cautious, with financial stocks facing the most pressure, while FMCG and IT sectors continue to attract defensive buying. In the near term, market trends are likely to be driven by developments in energy markets, global monetary policy expectations, and capital flows into emerging economies,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Top gainers and losers
Among the 30-Sensex firms, ITC, HCL Tech, Infosys, Bharti Airtel, and Reliance were the major gainers, with ITC gaining 3.98 per cent today. On the flip side, Maruti, SBIN, Indigo, Bajaj Finserv and M&M were among the laggards. Maruti shares fell 4.16 per cent today.
upee trades higher
Meanwhile, the rupee traded stronger despite higher crude oil prices and the Dollar Index holding near 99.50, supported by stronger-than-expected India GDP data.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
