Mumbai: The Indian stock market on Saturday closed flat over weak global cues as Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 in Parliament.
Despite touching the day’s high of 77,899.05, the BSE Sensex settled at 77,505.96 with 5.39 points or 0.01 per cent up from its previous close.
The NSE Nifty ended lower by 26.25 points, or 0.11 per cent, at 23,482.15. Throughout the session, the index moved between a high of 23,632.45 and a low of 23,318.30.
“The Nifty has witnessed a roller-coaster ride during the Budget session. On the daily chart, a small-bodied candle has formed, indicating indecision,” market experts said.
Among sectoral indices, FMCG, Consumer Durables, and Auto stocks saw strong gains.
The FMCG index jumped 2.94 per cent, while the Consumer Durables and Auto indices climbed 2.32 per cent and 2.54 per cent, respectively.
The Realty sector also performed well and closed the day by rising 1.77 per cent.
However, the IT sector was the biggest loser by falling 1.02 per cent.
Other sectors, including Nifty Bank, Financial Services, Metal, Pharma, Healthcare, and Oil & Gas, also saw declines.
In the broader market, the performance was mixed as the small-cap stocks outperformed, with the Nifty Smallcap100 index rising by 0.41 per cent, while the Nifty Midcap100 index ended down by 0.42 per cent.
According to market experts, the Nifty has support at 23,280, and if it remains above this level, the trend might stay positive.
On the higher end, the index could move towards 23,700–24,000 in the short term. However, a fall below 23,280 might trigger panic in the market,” market experts further added.
Market volatility also increased, as indicated by the India VIX, which surged 13.24 per cent to close at 14.10 points.
(IANS)
