Benchmark stock market indices closed unchanged on Thursday as investors took profits following three days of gains on Dalal Street. The S&P BSE Sensex edged up by 12.16 points to finish at 84,478.67, while the NSE Nifty50 closed at 25,879.15, up by just 3 points.
Vinod Nair, the Head of Research at Geojit Investments Limited, mentioned that the market ended flat despite positive global and domestic cues, with profit-booking offsetting early gains.
The positive sentiment was driven by Trump signing a short-term funding bill to end the U.S. government shutdown and hopes of tariff relief for India. October’s record-low inflation figures reinforced expectations of an RBI rate cut, making sectors like metals and realty appealing to investors. However, profit-taking occurred at higher levels due to continued outflows from FII, a weak rupee, and anticipation of the Bihar election results, leaving the benchmark indices mostly unchanged by the closing bell.
Asian Paints led the gainers with a 3.81% increase, trailed by ICICI Bank at 1.99%. Power Grid and Larsen & Toubro (L&T) both rose by 1.16%, while Bajaj Finserv added 0.90% as interest returned to select financial stocks.
On the flip side, Eternal witnessed the largest decline, falling by 3.63%, followed by Tech Mahindra Ventures down by 2.26%. Maruti Suzuki, Trent, and Tata Steel also registered losses of 1.45%, 1.19%, and 1.15%, respectively.
Ajit Mishra, the SVP of Research at Religare Broking Ltd, noted the possibility of consolidation after the recent rally, as the Nifty encountered resistance around the 26,000–26,100 level. He advised traders to focus on specific stocks in sectors like banking, auto, and metals, with a keen eye on risk management amid potential market volatility.
(Note: The opinions and recommendations expressed in this article belong to the experts mentioned and do not reflect those of the India Today Group. It is recommended to seek advice from a qualified broker or financial advisor before making investment decisions.)