Mumbai: The Indian stock market on Wednesday witnessed a choppy session, with benchmark indices ending flat despite facing volatility throughout the day.
The Sensex closed at 75,939.18, down by 28.21 points or 0.04 per cent. The index had touched an intra-day high of 76,338.58 but also saw a low of 75,581 before closing.
Similarly, the Nifty index ended almost unchanged at 22,932.90, slipping by 12.40 points or 0.05 per cent. The broader index traded between 23,049.95 and 22,814.85 during the session.
Stock-wise, half of the Nifty constituents closed in the negative. Dr Reddy’s Laboratories, TCS, Infosys and Hindustan Unilever were the top losers with falling up to 2.48 per cent.
On the other hand, Bharat Electronics, Hindalco, Eicher Motors, Larsen & Toubro, and Axis Bank posted gains of up to 3.54 per cent.
Smallcap stocks outperformed the benchmark indices, with the Nifty Smallcap100 index rising by 2.36 per cent, led by JBM Auto and Aegis Logistics.
The Nifty Midcap100 index also gained, ending the day 1.56 per cent higher. Among sectoral performances, banking stocks stood out as the Nifty Private Bank and PSU Bank indices climbed over 1 per cent each.
The Bank Nifty index also ended with a gain of 0.94 per cent. Sectors such as consumer durables, financial services, metals, media, and realty recorded gains of up to 1.59 per cent.
On the flip side, technology and healthcare stocks dragged the market. The Nifty IT index was the worst performer of the day, dropping by 1.26 per cent due to losses in Persistent Systems and Mphasis.
Other laggards included the auto, healthcare, pharma, and FMCG sectors, which also closed in the red.
“The Nifty has moved within a band, keeping the volatile vibe intact. On the lower end, 22,800 is likely to remain crucial support. Until 22,800 is broken, we do not expect a significant fall in the market,” said Rupak De of LKP Securities.
Rupee traded lower at 86.81, as the dollar index remained sideways near 107$, but rising crude prices above 72.40$ (WTI) added pressure on the rupee.
(IANS)
