Stock Market Today: Nifty, Sensex End Flat Amid Volatility
Market experts expect the indices to consolidate within a narrow range for the rest of the year, as the lack of major positive or negative triggers limits market movement
Indian benchmark indices, Sensex and Nifty, ended flat on Thursday amid a volatile session, as gains in auto stocks were offset by losses in the banking and FMCG sectors, reflecting the approach of the year-end. The BSE Sensex edged down by 0.39 points, closing at 78,472.48, while the NSE Nifty rose by 22.55 points, or 0.1 per cent, to settle at 23,750.20.
Market experts expect the indices to consolidate within a narrow range for the rest of the year, as the lack of major positive or negative triggers limits market movement. With most factors already priced in, the third-quarter earnings season and the upcoming Union Budget are likely to influence the market's next direction. Additionally, ongoing foreign institutional investor (FII) selling, along with rising bond yields and a strengthening dollar index, could further dampen sentiment.
Among sectoral indices, the Nifty PSU Bank and private bank indices trimmed losses to close slightly higher. Auto stocks continued their upward trend for the second consecutive session, with Maruti Suzuki, M&M, and Tata Motors leading the gains. M&M and Maruti Suzuki saw a rise after Motilal Oswal selected them as their preferred picks in the sector. While the Nifty Metal and Realty indices were down for most of the session, they managed to recover and end in the green. On the other hand, the Nifty FMCG and Media indices fell by up to 0.4 per cent, with losses in HUL, ITC, and Tata Consumer Products dragging the index lower.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, believes that while the RBI’s revised Q3 FY25 GDP growth forecast of 6.8 per cent is promising, the reduction in the full-year growth projection to 6.4 per cent from 7.2 per cent signals caution. He suggests that a rate cut in February and fiscal stimulus will be essential to achieve the FY26 growth target of 6.6 per cent. In the short term, markets are likely to consolidate as they await the Budget and policy measures, with market reactions depending on their impact on growth.
The broader market displayed a mixed performance. While the midcap index gained 0.12 per cent, the smallcap index ended flat. According to several market experts, broader market movements are largely stock-specific, and investors should be cautious, focusing on stocks with earnings visibility and attractive valuations.
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