Indian markets end flat amidst mixed sectoral performance
At the end of the trading session, Nifty was up 15.30 points or 0.06 per cent at 25,532.35 and the BSE's Sensex was up by 33.24 points or 0.04 per cent, reaching 83,639.70.
'Nifty has closed above the previous day's low, indicating yesterday's sell-off was only a temporary profit-booking pause in the rally,' said Praveen Dwarakanath, Vice President of Hedged.in.
'The smaller time frame momentum indicators are sloping upside, indicating a further rally from the current levels,' he added.
Among the index constituents, Apollo Hospitals, Bharat Electronics Ltd (BEL) and Reliance Industries emerged as the top gainers, while Nestle India and Axis Bank were the major losers.
On the sectoral front, Nifty Media, Nifty FMCG and Nifty Financial Services 25/50 closed in the red zone, while Nifty PSU Bank and Nifty Oil & Gas ended the day in the positive zone.
On Wednesday, out of 3,020 traded stocks 1,491 advanced for the day, while 1,452 ended the day in the red territory. Seventy-seven stocks remained unchanged for the day.
'India's upcoming trade deal will be a key event that is expected to have an impact on specific sectors rather than affecting the overall market index,' according to VLA Ambala, co-founder of Stock Market Today.
'For the upcoming sessions, the limelight will be mainly on sectors like agriculture, gems, auto, textiles, electronics, pharma, renewables/EVs, handicrafts, and energy. Traders should observe the prices and developments to identify gain opportunities,' VLA Ambala added.
On the precious metal side, Gold traded with modest gains, rising by 1.58 per cent to USD 3,359.25 in Comex and 1.29 per cent to Rs 97,305 in MCX as of 15:46 IST. (ANI)
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