The S&P BSE Sensex inched up 12 points, or 0.01%, to close at 84,478.67, while the NSE Nifty 50 added just 3 points to end at 25,879.15.
Here’s how analysts read the market pulse:
National equities closed flat after a positive session, as profit-booking erased early gains despite optimistic global and domestic cues, said Vinod Nair, Head of Research at Geojit Investments, adding that the sentiment was buoyed by Trump signing a short-term funding bill to end the U.S. government shutdown and hopes of tariff relief for India.
“The record-low October inflation prints reinforced expectations of an RBI rate cut, making rate-sensitive sectors like metals and realty attractive to investors. However, amidst continued outflows from FII and a weak rupee, profit-booking emerged at elevated levels ahead of the Bihar election results, which left the benchmark indices largely unchanged by the close,” said Nair.
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US markets
Wall Street’s main indexes fell on Thursday as caution prevailed ahead of indications on the U.S. economy and the monetary policy path after President Donald Trump signed a bill ending the longest government shutdown in the country’s history.Markets will closely monitor the flow of official data, as a prolonged absence left both the Federal Reserve and traders guessing on the economy’s health and reliant on private sources.Still, some data gaps are likely to be permanent, with the White Housing saying employment and Consumer Price Indexes reports for October might never be released.
European Markets
Europe’s STOXX 600 was having a tricky day with a near 1% jump from France’s CAC 40 initially nudging both indexes to all-time peaks before profit taking and a 5% tumble by German engineering giant Siemens dragged it into the red.
Tech View
The Nifty remained volatile ahead of the Bihar election results, and while the technical setup remains intact, the index is comfortably placed above the 21EMA, said Rupak De, Senior Technical Analyst at LKP Securities, adding that the RSI has entered a positive crossover with a reading above 60, indicating strong price momentum.
“An extension of today’s volatility is expected tomorrow. Technically, immediate resistance is placed at 26,000; a decisive move above this level might trigger a rally towards 26,200/26,350. On the lower end, immediate support is placed at 25,800, below which the current rally might lose some steam,” said De.
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Most active stocks in terms of turnover
Infosys (Rs 3,039 crore), ICICI Bank (Rs 2,531 crore), Eternal (Rs 1,915 crore), Data Patterns (India) (Rs 1,872 crore), Asian Paints (Rs 1,704 crore), Tata Steel (Rs 1,472 crore) and BSE (Rs 1,471 crore) were among the most active stocks on BSE in value terms. Higher activity in a counter in value terms can help identify the counters with highest trading turnovers in the day.
Most active stocks in volume terms
Vodafone Idea (Traded shares: 139.11 crore), Tata Steel (Traded shares: 8.20 crore), Eternal (Traded shares: 6.35 crore), YES Bank (Traded shares: 5.93 crore), Ashok Leyland (Traded shares: 5.36 crore), Motherson Sumi (Traded shares: 4.52 crore) and Reliance Power (Traded shares: 4.25 crore) were among the most actively traded stocks in volume terms on NSE.
Stocks showing buying interest
Shares of Data Patterns (India), DB Realty, PG Electroplast, Ashok Leyland, Advent Hotels International, Century Ply and Five-Star Business Finance were among the stocks that witnessed strong buying interest from market participants.
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52 Week high
Over 131 stocks hit their 52 week highs today while 128 stocks slipped to their 52-week lows. Among the ones which hit their 52 week highs included Asian Paints and Muthoot Finance.
Stocks seeing selling pressure
Stocks which witnessed significant selling pressure were Suven Pharma, Endurance Technologies, Lemon Tree Hotels, Cochin Shipyard, Tejas Networks, BLS International Services and Usha Martin.
Sentiment meter bearish
The market sentiments were bearish. Out of the 4,4,367 stocks that traded on the BSE on Thursday, 2,450 stocks witnessed declines, 1,773 saw advances, while 144 stocks remained unchanged.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)