The Indian stock market experienced a volatile trading session, with benchmark indices erasing early gains to end slightly lower, primarily due to a decline in IT stocks.
The S&P BSE Sensex dropped by 32.11 points, closing at 76,138.97, while the NSE Nifty50 declined by 13.85 points to settle at 23,031.40.
Market experts attributed the fluctuations to profit booking in heavyweight stocks, which wiped out initial gains. Ajit Mishra, SVP – Research at Religare Broking Ltd., noted that while the session started positively, selective selling led to a flat close amid mixed sectoral trends.
Sectoral Performance and Key Gainers
Despite volatility, some sectors outperformed, with pharma, metal, and realty stocks showing strength, while IT and FMCG sectors lagged.
Among the top gainers, Tata Steel led the pack with a 3.12% gain, followed by Sun Pharmaceutical Industries (3.02%) and Bajaj Finserv (3.00%). Additionally, Bajaj Finance rose 2.28%, and Cipla added 1.77%.
Biggest Losers
On the losing side, Adani Enterprises suffered the sharpest fall, dropping 4.93%, while Adani Ports and Special Economic Zone fell 1.86%. Other notable losers included Hero MotoCorp (-1.59%), Infosys (-1.21%), and Larsen & Toubro (-1.05%).
Market Outlook and Expert Views
Market analysts remain cautious, citing global economic uncertainties and trade tensions as potential risks. Ajit Mishra highlighted that the persistent selling pressure on rebounds indicates that bearish sentiment remains strong. He advised traders to adopt a stock-specific strategy with strict risk management until the market finds a clearer direction.
Another key factor influencing investor sentiment is Indian Prime Minister Narendra Modi’s ongoing visit to the United States. Experts believe that the impact of this visit on India’s trade relations with the US could shape market movements in the coming sessions.
VLA Amabala, Co-Founder of Stock Market Today, suggested that in the next trading session, the Nifty could find support between 23,180 and 23,280, while resistance levels are expected between 22,960 and 22,740.
As markets navigate global uncertainties and domestic developments, investors are advised to stay alert and focus on fundamentals and technical levels before making trading decisions.
