Indian stock markets closed flat on Thursday due to investor caution amidst geopolitical uncertainties, fluctuating crude oil prices, and weak Asian market trends. The Sensex ended at 77,186.87, up 1.44 points, while the Nifty finished 0.02% lower at 24,072.75.
In intraday trade, the Sensex rose by 0.51% to 77,579.69 before dropping to 77,086.42, while the Nifty reached a high of 24,186.50 and a low of 24,050.
Consumer-focused and sector-specific stocks performed well, with the Nifty Consumer Durables index leading the gains. However, financial stocks faced pressure, with indices like Nifty MidSmall Financial Services and Nifty Financial Services Ex-Bank declining.
Analysts highlighted that the market remained range-bound due to geopolitical concerns and other factors. They emphasized the importance of monitoring earnings, monsoon progress, and global developments for market direction.
Technically, analysts observed that the Nifty faced resistance near the 24,200 level, with 24,000 seen as a crucial support. Maintaining this level is crucial for the broader recovery trend.
