After a choppy day on Dalal Street, the headline indices wrapped up the session in a flat note. The Sensex closed at 80,744.62, up 0.03%, while the Nifty ended at 24,741.00, down 0.03%. The Nifty Bank also ended the day up at 54,114, up by 0.07%.
The Sensex saw a sharp swing of nearly 700 points from the day’s high.
“Global cues also lent support, with U.S. and Asian markets trading higher ahead of the U.S. jobs report, a key trigger for Fed rate cut expectations. In the near term, markets are likely to remain range-bound, with a buy-on-dips, sell-on-rallies strategy guiding investor behaviour,” said Vinod Nair, Head of Research, Geojit Investments.
Let’s take a look at the key highlights of today’s trading session-
Top gainers: Autos and Energy stocks lead
Auto majors provided some cushion to the market. Mahindra & Mahindra (M&M) and Maruti Suzuki gained around 1–2% each. PowerGrid and Reliance Industries also ended higher.
Key Laggards: ITC and Tech stocks weigh
On the flip side, selling in IT and FMCG stocks dragged the indices lower. ITC slipped sharply as investors digested concerns over GST-related implications on its tobacco business. Among tech names, HCL Tech, Tech Mahindra, and TCS were under pressure, closing in the red.
Nifty IT tumbles nearly 2%
The biggest drag of the session came from the technology space. The Nifty IT index cracked almost 2% in intraday trade, with all 10 constituents trading in the red. Persistent Systems was the worst performer, falling nearly 4%, while Mphasis lost close to 3%. Heavyweights Infosys, TCS, and HCL Tech also fell around 2% each.
Top sectors in today’s trade
Mining, autos, internet, and electric vehicles stocks were in focus in today’s trade. Mining shares gained 1.42%, while automobile counters advanced 1.4%. Internet and e-commerce names also moved higher, adding 1.26%. The electric vehicles surged 1.23% in today’s session.