MUMBAI, India — Indian equity markets ended largely flat on Wednesday, snapping a three-session winning streak as investors adopted a cautious stance ahead of the release of consumer price inflation data.
At the close of trading, the Sensex slipped 40 points, or 0.05 percent, to settle at 84,233, while the Nifty added 18 points, or 0.07 percent, to finish at 25,953.
Broader markets moved in line with the benchmarks. The Nifty Midcap 100 edged up 0.03 percent, while the NSE Smallcap 100 rose 0.02 percent.
Market breadth remained negative, with 2,259 stocks declining against 1,701 advancing on the BSE. The Nifty Next 50 outperformed, gaining 0.55 percent, while the Nifty Financial Services index added 0.32 percent.
Sectorally, most indices ended higher, with the exception of information technology and private banks. The IT index was the biggest laggard, falling 1.76 percent. Auto stocks rose 1.30 percent, pharmaceutical shares gained 1.01 percent, and PSU bank stocks climbed 1.03 percent.
The rupee traded marginally weaker at 90.68 against the dollar, down 0.13 paise, as the currency continued to move within a narrow range amid mixed global cues. Analysts said higher crude oil prices, particularly with increased imports from Western markets, could widen the import bill and keep pressure on the currency.
Market participants said the Nifty remains range-bound, with stock-specific action dominating trading in the absence of a clear directional trigger.
The Bank Nifty index closed marginally higher near 60,750, holding above the key support level of 60,500. Analysts said the banking index remains range-bound with a positive bias, but needs a sustained move above 60,800 to signal a meaningful expansion in momentum.
In monthly and annual performance, the Nifty declined 3.10 percent in January but remains up 7.71 percent over the past year. The Nifty 500 was flat for the month and is up 6.94 percent year-on-year. Midcap and smallcap indices underperformed in January, declining between 3.53 percent and 5.52 percent. (Source: IANS)
