Indian equity benchmark indices closed on a mixed note, with weakness in information technology stocks impacting the market. However, buying in financial, FMCG, and metal shares offered some support. The Sensex ended marginally lower at 85,524.84, breaking its two-day winning streak.
On the other hand, the Nifty extended gains for a third consecutive session, closing at 26,177.15, up by 0.02%. Market experts noted that the Nifty is holding well above the key support zone of 26,000–26,100, which is crucial for maintaining a positive bias in the short term. Shares of ITC, UltraTech Cement, and Tata Steel were among the top gainers on the BSE, driven by interest in FMCG and metal stocks.
Conversely, IT giants like Infosys and Tech Mahindra, along with Bharti Airtel, faced selling pressure and emerged as the top losers. The NSE also witnessed a similar trend, with Coal India, Shriram Finance, and ITC among the top gainers. While the Nifty SmallCap 100 index saw a 0.37% rise, indicating selective buying in smaller stocks, the Nifty MidCap 100 index remained nearly unchanged.
In terms of sectors, the IT index experienced the most significant decline of 0.80% due to ongoing weakness in technology stocks. On the positive side, the media index led gains with a 0.84% increase. Metal, media, and FMCG stocks closed higher, helping to offset losses in the broader market. The Indian rupee closed flat for the second consecutive session, with experts suggesting a consolidation phase between 89.10 and 90.30 for the USDINR pair.
