Indian stock market ends flat, smallcap stocks extend rally
The Sensex ended at 74,332.58, down by just 7.51 points or 0.01 per cent. During the intra-day session, the 30-share index moved between a high of 74,586.43 and a low of 74,038.03.
- MUMBAI — The
Indian stock market saw a volatile trading session on Friday, with benchmark
indices managing to stay in the positive territory.
-
- Gains in metal stocks provided support, while smallcap
stocks continued their strong rally. This was followed by two consecutive day
bull run, when the share market closed in green.
-
- The Sensex ended at 74,332.58, down by just 7.51 points or
0.01 per cent. During the intra-day session, the 30-share index moved between a
high of 74,586.43 and a low of 74,038.03.
-
- The Nifty, however, managed to end slightly higher, gaining
7.80 points or 0.03 per cent to close at 22,552.50. The index touched a high of
22,633.80 during the day but also slipped to an intra-day low of 22,464.75.
-
- The indices opened weak but recovered as buying interest
emerged in select blue-chip stocks, including Tata Motors.
-
- Oil and gas stocks also contributed to the recovery. Broader
markets outperformed, with the smallcap index rising by 1.1 per cent, marking
its fourth consecutive session of gains.
-
- “Today's market strength was driven by a broad-based
recovery, with Nifty 50 stabilising near fair valuations, while mid and
small-caps saw continued buying after recent corrections,” said Krishna Appala
from Capitalmind Research.
-
- Sustaining this rally depends on earnings recovery and
broader market sentiment, the expert added.
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- Among the top gainers in the Nifty pack were Tata Motors,
Bharat Electronics, Nestle India, and Bajaj Auto.
-
- However, some IT and banking stocks faced mild selling
pressure which includes IndusInd Bank, Shriram Finance, NTPC, BPCL and Infosys.
-
- In the broader market, the Nifty Smallcap100 index continued
its upward trend, closing 0.67 per cent higher. However, the Nifty Midcap100
index slipped by 0.32 per cent.
-
- Sectoral performance on the NSE was mixed. Nifty Auto, PSU
Bank, Metal, Media, and Oil & Gas indices saw gains of up to 1.83 per
cent, while other sectors remained subdued.
-
- Over the past week, the Nifty gained 2.1 per cent, while the
Nifty Midcap 100 and Nifty Smallcap 250 surged 2.9 per cent and 5.8 per cent,
respectively.
