Sensex and Nifty End Flat Amid Mixed Trends; Mid and Small Caps Outperform
The Indian stock market saw a lackluster performance on Tuesday, December 10, with benchmark indices Sensex and Nifty 50 ending almost unchanged. Gains in heavyweights like Infosys, ICICI Bank, and SBI were offset by declines in Reliance Industries, Bharti Airtel, and Larsen & Toubro (L&T).
The Sensex inched up by just 2 points to close at 81,510.05, while the Nifty 50 slipped by 9 points, settling at 24,610.05.
Mid and Small Caps Outshine
While the benchmarks remained muted, mid and small-cap stocks stole the spotlight. The BSE Midcap index rose 0.30%, and the Smallcap index climbed 0.33%, reflecting robust investor interest in these segments.
Sectoral Performance: Realty and IT Shine
Most sectoral indices ended in the green, with Nifty Realty gaining over 1% and Nifty IT rising nearly 1%. Banking stocks also provided some relief as Nifty Bank ended with modest gains of 0.32%, breaking its two-day losing streak. Top performers in the banking sector included PNB, SBI, Kotak Mahindra Bank, and ICICI Bank.
Nifty 50 Gainers and Losers
Among the Nifty 50 constituents, 27 stocks ended in the red. Bharti Airtel, Dr. Reddy’s Laboratories, and Adani Ports were the top losers. Meanwhile, Shriram Finance, Bajaj Finserv, and HCL Technologies emerged as the top gainers, driving optimism among investors.
What’s Driving Market Sentiment?
The Nifty 50 has now fallen for three consecutive sessions, albeit with minor losses, dropping just 0.40% during this period. The index remains 6.3% below its all-time high of 26,277.35, achieved on September 27.
Analysts attribute the muted performance to a lack of fresh triggers, with markets awaiting crucial macroeconomic data and the U.S. Federal Reserve’s policy announcement next week.
Vinod Nair, Head of Research at Geojit Financial Services, highlighted the significance of upcoming inflation data from India and the U.S. in shaping the market’s future direction. “India’s CPI will be a critical gauge for underlying earnings growth,” he noted.
Expert Recommendations
Ajit Mishra, SVP of Research at Religare Broking, advised investors to adopt a stock-specific strategy, leveraging opportunities in mid and small-cap stocks during the ongoing consolidation phase. He emphasized the importance of staying cautious unless Nifty breaks decisively below 24,300.
Rupak De, Senior Technical Analyst at LKP Securities, pointed out key levels to watch. “A breach below 24,470 could trigger a 200–250 point correction, while resistance is seen at 24,700–24,750,” he said.
Read more Blogs
AI Features, iPhone Updates, and Festive Scams Lead Tech News
Leave a Reply