The benchmark equity indices ended Friday’s trading session in the negative territory. The NSE Nifty 50 dropped just 10.53 points or 0.05% to settle at 22,957.10, while the BSE Sensex ends marginally lower by 7.65 points or 0.01% to 75,410.39. Bank Nifty index ended higher by 203.05 points or 0.42% to settle at 48,971.65.
The broader indices ended in mixed territory, with gain led by Largrcap and Midcap stocks. Media and Financial Services stocks outperformed among the other sectoral indices while Realty and FMCG stocks shed.
HDFC Bank, Bharti Airtel, BPCL, Larsen & Toubro, and Ultra Tech Cement were the top gainers on the NSE Nifty 50, while the laggards includes Adani Ports and SEZ, Tech Mahindra, Mahindra & Mahindra, JSW Steel, and Titan Company.
The Indian Volatility Index (India VIX) closed up by 1.54 % at 21.71.
“Markets traded quietly after Thursday’s surge and ended nearly unchanged. Following a flat start, the Nifty oscillated within a narrow range throughout the session but managed to briefly reach the new milestone of 23,000. Meanwhile, a mixed trend across sectors kept traders engaged, with auto, banking, and financial sectors performing well, while FMCG and realty experienced profit-taking. The broader indices also had a muted session, closing almost flat,” said Ajit Mishra – SVP, Research, Religare Broking.
Mishra also said that, It’s common to see a pause after a strong upward move, and traders should view any dip around 22,750-22,850 in Nifty as a buying opportunity. While key sectors are contributing to the upward movement, we are now seeing more selective participation. Therefore, it is advisable to focus on stock selection, with a preference for large-cap and large mid-cap stocks.