Indian equity markets traded in a narrow range on Thursday, with benchmark indices showing muted movement amid mixed sectoral trends.
ЁЯСЙ BSE Sensex traded around 140 points higher
ЁЯСЙ while Nifty 50 hovered near the 24,400 mark
ЁЯУИ Key Market Highlights
- Nifty stayed around 24,350тАУ24,400
- Sensex traded marginally higher
- Midcap and smallcap indices gained around 0.5%
- Market breadth remained positive
ЁЯСЙ Advancing stocks comfortably outnumbered declining shares.
ЁЯЪА Sectors Supporting the Market
ЁЯЪЧ Auto Stocks
Buying interest continued in automobile shares.
ЁЯз▒ Metal Stocks
Metal companies gained on improving global sentiment and commodity support.
тЪб Energy Stocks
Energy shares remained firm as crude prices eased slightly.
ЁЯУЙ Weak Sectors
Pressure was visible in:
- ЁЯТ╗ IT
- ЁЯз┤ FMCG
- ЁЯПЧя╕П Realty
- ЁЯПж PSU Banks
- ЁЯЫНя╕П Consumer Durables
These sectors capped the marketтАЩs upside.
ЁЯЫвя╕П Brent Crude Falls Below $98
One positive trigger for the market was:
ЁЯСЙ Brent crude slipping below $98 per barrel
Lower oil prices are generally positive for India because:
- Inflation pressure eases
- Import costs reduce
- Corporate margins improve
ЁЯПн MRF Q4 Results in Focus
ЁЯСЙ MRF reported a strong Q4 performance.
- Q4 profit jumped 37%
- Strong earnings supported investor sentiment in auto-related stocks.
ЁЯУК Broader Market Trend
Despite muted benchmark movement:
- Midcaps and smallcaps stayed strong
- Positive breadth indicates broader buying interest
ЁЯСЙ This suggests underlying market sentiment remains constructive.
тЪб Key Levels to Watch
ЁЯУМ Nifty Support:
- 24,250
- 24,100
ЁЯУМ Resistance:
- 24,500
- 24,650
ЁЯФН Final Takeaway
- Sensex: Slightly positive
- Nifty: Around 24,400
- Broader market: Strong
- Key support:
- Auto
- Metal
- Energy stocks
