Sensex Today: Indian Market Ends Volatile Session Higher; PSU Banks Shine
In a classic example of resilience, the Indian stock market staged a smart recovery from the day's lows to close in the green on Friday, marking the fourth consecutive session of gains for the benchmark indices . The late-session rebound, led by selective buying in large-cap stocks and a rally in PSU bank shares, helped the indices overcome a weak start influenced by negative global cues .
The BSE Sensex concluded at 84,562.78, up by 84.11 points (0.10%), while the Nifty 50 finished at 25,910.05, gaining 30.90 points (0.12%) . The Nifty Bank index also edged higher, closing at 58,517.55, up by 0.23% .
Market Snapshot: A Glance at Key Levels
· Sensex: 84,562.78 (+84.11 points)
· Nifty 50: 25,910.05 (+30.90 points)
· Nifty Bank: 58,517.55 (+135.61 points)
Sectoral Landscape: A Mixed Bag
The market breadth revealed a mixed performance across sectors.The Nifty PSU Bank index was a standout performer, gaining 1.17% and leading the recovery charge . Other sectors like FMCG and Healthcare also closed positively . However, IT and Auto sectors faced selling pressure, with the Nifty IT index dropping 1.03% and the Nifty Auto index declining 0.52% .
Key Market Drivers and Triggers
The market's trajectory was influenced by several key factors:
· Institutional Activity: Foreign Institutional Investors (FIIs) continued their selling streak, offloading equities worth ₹383.68 crore on Thursday. However, their outflow was countered by Domestic Institutional Investors (DIIs), who were net buyers, purchasing stocks worth ₹3,091.87 crore, providing crucial support to the market .
· Global Cues: Asian and European markets largely traded lower, which weighed on initial sentiment .
· Focus on Central Banks: According to experts, investors are shifting their focus to upcoming policy meetings of the RBI and the US Federal Reserve, which has added to a wait-and-watch mood in the market .
Stocks in the Spotlight
· Muthoot Finance was a major gainer, with its stock price soaring .
· Stocks like HBL Power Systems and Ipca Labs witnessed significant bullish momentum and volume .
Outlook and Strategy for Traders
As the market navigates through global uncertainties and domestic triggers,the undertone remains cautious. The ability of the Nifty to hold key support levels and the ongoing tussle between FII and DII flows will be critical in determining the short-term direction. Traders are advised to focus on stock-specific actions, especially in sectors showing relative strength, and keep a close watch on global developments.
Disclaimer: This blog is for informational purposes only and does not constitute investment advice. Please consult with a certified financial advisor before making any investment decisions.
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