Indian equity benchmarks were trading largely flat on December 29, as gains in metal stocks offset weakness in PSU banks, keeping overall market sentiment cautious in early trade.
At mid-morning, both the Sensex and Nifty 50 hovered near the flatline, reflecting a lack of strong directional cues. Volatility edged higher, with India VIX rising nearly 4 percent, indicating increased near-term uncertainty.
Sectoral Performance
- Metal index gained around 1 percent, emerging as the top sectoral performer
- PSU bank stocks dragged on the benchmarks
- BSE Midcap and Smallcap indices were trading flat, indicating muted broader market participation
Top Gainers and Losers on Nifty
Among the Nifty gainers were Hindalco, Asian Paints, Tech Mahindra, Tata Steel, and NTPC, supported by buying interest in metals and select defensives.
On the downside, Reliance Industries, Bajaj Finserv, Axis Bank, Bajaj Finance, and Tata Consumer were among the key laggards, weighing on headline indices.
Market View
With volatility ticking up and sectoral rotation visible, markets remain range-bound as investors assess global cues and domestic triggers toward the year-end.
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