Benchmark indices Sensex and Nifty ended a volatile trading session almost flat as investors turned cautious amid weakness in Asian markets due to a sharp sell-off in semiconductor stocks. The 30-share BSE Sensex closed 1.44 points higher at 77,186.87. During the day, the benchmark hit a high of 77,579.69 and a low of 77,086.42, gyrating 493.27 points. The 50-share NSE Nifty ended 5.75 points or 0.02 per cent lower at 24,072.75. Similarly, the broader market was under pressure and ended the session in the red. While the BSE MidCap Select Index fell 12.27 points or 0.07 per cent, the BSE SmallCap Select Index dropped 18.73 points or 0.21 per cent.
Among sectoral indices, Nifty Metal and Nifty Auto witnessed substantial selling.
“Indian equities concluded largely subdued as investors remained cautious amid geopolitical uncertainties, fluctuating oil prices, and weak Asian market trends. While inflation concerns weighed on financials and realty, the chemicals space emerged as a bright spot, supported by the reinstatement of import duties on select petrochemicals, alongside strong earnings traction. Meanwhile, softer than expected U.S. inflation eased rate concerns and offered downside support. Going forward, corporate earnings and management commentary, along with progress in monsoons, will be key catalysts, while global and inflation-related developments continue to influence market momentum,” said Vinod Nair, Head of Research, Geojit Investments Limited.
Rupee traded largely flat near 96.33, as crude oil prices remained range-bound and the Dollar Index hovered around 100.55, resulting in a subdued trading session.
Top gainers and losers
Among the 30-Sensex firms, Indigo, HCL Tech, Bajaj Finance, Maruti and Mahindra & Mahindra were the major gainers, with Indigo gaining 1.84 per cent today. On the flip side, Eternal, BEL, Bajaj Finserv, HDFC Bank and Axis Bank were among the laggards. Eternal’s shares fell 2.82 per cent today.
Today, shares of 15 out of 30 Sensex companies closed in the green, while the remaining 15 closed in the red. On the other hand, shares of 21 out of 50 Nifty 50 companies also closed in the green, with gains, while the remaining 29 closed in the red.
Rupee settles 8 paise lower
The rupee depreciated for the fourth straight day, shedding 8 paise to settle at 96.33 (provisional) against the US dollar amid volatility in global crude oil prices and a stronger greenback as the West Asia crisis intensified.
Technically, the rupee faces immediate resistance near 96.00, with the near-term trading range seen between 96.00–96.60. The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading marginally up by 0.02 per cent at 100.50.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
