Stock Market Today: Sensex, Nifty Settles Marginally Higher Amid IT, Pharma Struggle

Stock Market Today: On the 30-share Sensex platform, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Power Grid and Maruti closed the trading session in positive territory

Stock Market Today: Mid and small-cap stocks exhibited mixed performances during the session

Source : PTI

Stock Market Today: Indian benchmark indices concluded the trading day higher on Thursday despite experiencing some volatility throughout the session. The Nifty index hovered around the significant level of 25,000. By the end of the day, the Sensex gained 144.31 points or 0.18 per cent, closing at 81,611.41. Meanwhile, the Nifty rose by 16.50 points, or 0.07 per cent, finishing at 24,998.50.

On the 30-share Sensex platform, Kotak Mahindra Bank, HDFC Bank, IndusInd Bank, Power Grid and Maruti closed the trading session in positive territory. Conversely, Tech M, Sun Pharma, Infosys, Titan and Tata Motors finished the day among the laggards.

Among the sectoral indices, the Nifty Private Bank index finished the session up by 1.59 per cent, followed by the Nifty PSE, which gained 0.71 per cent, and the Nifty Metal, which rose 0.4 per cent. In contrast, the Nifty Pharma index fell 2.01 per cent, while the Nifty IT index declined 1.25 per cent. Additionally, the Nifty FMCG closed the trading day at 0.45 percent down.

Mid and small-cap stocks exhibited mixed performances during the session. The Nifty Midcap 100 index closed 0.30% lower at 58,935 points, while the Nifty Smallcap 100 index finished in positive territory, gaining 0.19% to close at 18,900 points.

Commenting on market performance, Vinod Nair, Head of Research of Geojit Financial Services, said, "The market traded on a range bound trend with a negative bias ahead of the start of Q2 result. The Asian market started well but could not hold on to the gains as European markets waved on a negative trend in anticipation of the key US inflation data, global bond yields are rising. Domestic broader market momentum was mixed with caution as the initial expectation of Q2FY25 results is subdued due to a subpar momentum in the global and rural demand." 

In the previous trading session on Wednesday, the Sensex settled 167.71 points lower at 81,467.10, while the Nifty ended the session below the 25,000 mark at 24,981.95, declining by 31.20 points.