Equity benchmarks traded largely flat on Monday, December 30, where the BSE Sensex moved in a narrow range and showed little change, while the Nifty50 managed to hold above the 25,950 level, supported mainly by buying in automobile stocks.
The Nifty Auto index rose over one per cent, emerging as the top sectoral performer. Buying interest was seen in select auto and defence stocks, helping the market recover from early losses. Bharat Electronics Ltd (BEL) was among the notable gainers, supported by continued investor interest in defence-related stocks. Shriram Finance also moved higher following positive sentiment around its business outlook.
On the downside, several heavyweight stocks traded lower, capping overall market gains. Bajaj Finance and Apollo Hospitals were among the key losers in early trade, along with stocks such as Jio Financial Services, InterGlobe Aviation and Adani Ports. Selling pressure in select financial and healthcare stocks kept the benchmarks under check.
Broader markets showed a mixed trend, with mid-cap and small-cap stocks lacking clear direction. Market participants remained cautious due to weak global cues and low participation ahead of the New Year holidays. Asian markets traded mixed, while overnight losses in US technology stocks also weighed on sentiment.
Meanwhile, the rupee traded slightly stronger against the US dollar, and commodity markets saw mild gains in gold and silver prices.
Market experts said the lack of strong triggers and low trading volumes are likely to keep markets range-bound in the near term. A clearer trend is expected to emerge only in the New Year, when institutional activity picks up and investors respond to fresh global and domestic cues.
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