The stock market closed flat on Wednesday. Sensex closed in the green while Nifty also closed in the green. Sensex closed at 81,496 points with a fall of 16.90 points and Nifty closed at 24,630 points with a gain of 20 points.
Trading continued in a limited range in the market for the third consecutive day. IT, FMCG and small-medium stocks are dominating the market. Buying was seen in midcap and smallcap shares. Nifty Smallcap index reached record high.
Top gainers and losers
Trent, Bajaj Finance, Britannia Industries, Shriram Finance, Bajaj Finserv are the top gainers in Nifty. While JSW Steel, Adani Ports, NTPC, SBI, Axis Bank were the top losers.
Foreign investors on Tuesday invested Rs. Invested. Equity purchases of Rs 1,285 crore continued the bullish trend, indicating continued interest in Indian markets despite near-term volatility. Traders and investors are keenly eyeing the release of the US Consumer Price Index (CPI) inflation data, a key event due to happen today.
What do the experts say?
Vinod Nair, head of research at Geojit Financial Services, said, “Indian markets showed subtle movements, reflecting the mixed sentiment prevailing in global markets ahead of the release of US CPI inflation data, which could impact Fed policy. While a slight decline was seen in bond yields.” Apart from optimism over China’s possible moves, defensive sectors including FMCG and pharmaceuticals witnessed a rally, he said.
