Stock Market Highlights | Sensex, Nifty pare gains to close flat; midcaps, smallcaps under pressure

HomeMarket NewsStock Market Highlights | Sensex, Nifty pare gains to close flat; midcaps, smallcaps under pressure

Stock Market Highlights: Indian equities turned volatile as the session progressed, with benchmarks erasing early gains and broader markets underperforming.

Sensex slipped from its intraday high, while the NIFTY 50 traded largely flat. Broader indices came under sharper pressure, with midcap and smallcap stocks declining around 1% each, and sectoral weakness seen across media, energy, metal, oil & gas, and PSU banks. Meanwhile, the rupee strengthened by 11 paise to 95.24 against the US dollar.

As the market entered the 3 PM session, the Indian benchmarks showed a mixed trend. Sensex gained 156.36 points or 0.21% to 74,075.12, while NIFTY 50 was nearly flat, up just 1.60 points at 23,243.70.

The markets have entered the second half of the day's trade, and the markets are holding onto the gains after a minor slump.

The markets are trading higher, with the Nifty rising over 100 points, jumping towards the 23,300 mark. The Sensex index is also up over 300 points, rising above the 74,200 mark.

The Nifty Bank is also up, although marginally, building on its recent gains.

While the Nifty remains confined in a range, the Nifty Bank has become the index to watch after Tuesday's breakout from a 1,500-point range.

Analysts there expect further upside towards the 56,200 levels in case the index manages to cross the near-term hurdle of 55,700 - 55,800.

For today, the 23,070 low continues to remain the line in the sand for the bulls, while the 23,300 - 23,500 zone will continue to act as a barrier. Oil prices have not surged much either, despite the recent escalations.

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