Benchmark indices in India closed nearly unchanged on Wednesday due to muted global cues and selling across multiple sectors, including auto, PSU banks, financial services, pharmaceuticals, metals, and real estate.
The Sensex concluded at 78,148.49, a decline of 50.62 points or 0.06 percent. Meanwhile, the Nifty ended at 23,688.95, down 18.95 points or 0.08 percent.
The Bank Nifty index dropped 367.10 points or 0.73 percent, closing at 49,835. The Nifty Midcap 100 index fell 598.70 points or 1.05 percent to settle at 56,270.60. The Nifty Smallcap 100 index also recorded a drop, ending at 18,365.65 after losing 307.80 points or 1.65 percent.
On the Bombay Stock Exchange (BSE), 1,390 shares advanced, 2,582 shares declined, and 94 shares remained unchanged.
Among sectoral indices, IT and FMCG segments posted gains, while other sectors witnessed a dip.
Market analysts attributed the session’s performance to concerns over slower economic growth forecasts and caution ahead of Q3 earnings results, which contributed to market volatility. They noted some recovery during the session, driven by buying in large-cap stocks and expectations of potential government measures in the upcoming budget.
Experts also highlighted that rising US bond yields and reduced expectations of interest rate cuts in the United States may dampen near-term investor sentiment.
In the Sensex components, stocks such as UltraTech Cement, L&T, Sun Pharma, HDFC Bank, ICICI Bank, NTPC, SBI, Zomato, Titan, Tata Steel, and M&M were among the major decliners. Gains were seen in stocks including TCS, ITC, Asian Paints, HCL Tech, Maruti Suzuki, Bharti Airtel, Axis Bank, Bajaj Finserv, Hindustan Unilever, PowerGrid, Nestle India, and Tata Motors.
Foreign institutional investors sold equities worth Rs 1,491.46 crore on January 7, while domestic institutional investors bought equities worth Rs 1,615.28 crore on the same day.
–IANS
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