The Nifty continued to be directionless for the third day in a row and settled almost unchanged, in the absence of any major trigger. However, there were many trading opportunities, thanks to stock-specific movements. On the sectoral front, the banking space continued its underperformance and profit taking in energy space added to the pressure.
The Nifty closed the day 1.75 points down at 8190.50, while the Sensex ended at 26633.13, down by 10.11 points.
Commenting on the markets, Jayant Manglik, President, Retail Distribution, Religare Securities Ltd, said, “Nothing has changed in the markets in the last three sessions. Auto, energy and media are doing well, but weakness in banking, especially in the PSU pack, is still a concern. We suggest maintaining a positive yet cautious stance on the index. However, continue to trade on opportunities based on stock-specific moves.”