Stock Market Today: Sensex, Nifty Conclude Trading On A Flat Note

Indian Benchmark indices Nifty and Sensex reversed early gains to end lower on Friday, snapping a two-day winning streak and capping the week on a muted note. Following a strong rally in recent sessions, analysts believe the market may be entering a consolidation phase. The India VIX, often referred to as the fear gauge, jumped 5 per cent during the session, crossing the 18 level and indicating heightened investor anxiety.

At the close, the Sensex slipped 46.14 points, or 0.06 per cent, to settle at 80,242.24, while the Nifty edged down 1.75 points, or 0.01 per cent, to end at 24,334.20. Market breadth was weak, with 938 stocks advancing, 2,828 declining, and 141 remaining unchanged.

Broader Market Update

As the benchmark indices lost ground, the broader market mirrored the decline. The Nifty Midcap 100 fell 0.7 per cent, while the Smallcap 100 dropped 1.7 percent. Despite a strong showing in April, both indices remain in the red for the year, with the Midcap down 5.3 per cent and the Smallcap trailing by 12 per cent.

Sectorial Update

On the sectoral front, Nifty Pharma, Oil & Gas, Infra, FMCG, Realty, and Energy ended higher. Pharma and Oil & Gas led the gains, rising 0.6 per cent and 0.4 per cent, respectively. In contrast, Nifty Bank, PSU Bank, IT, and Metal sectors declined, shedding between 0.4 per cent and 2 per cent.

Despite the dip, foreign institutional investors (FIIs) have continued to provide key support, infusing a net Rs 37,325 crore into Indian equities over the past 10 trading sessions.

“The weakening US dollar and India’s economic resilience have made the country attractive to global investors. That said, investors should tread cautiously. After a rewarding rally, some stocks have surged significantly. It’s a good time to book partial profits and raise cash levels in the portfolio,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

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