The benchmark indices edged higher on Thursday but saw volatile trading with a marked pullback in consolidation from initial gains. For instance, the S&P BSE Sensex finished with an increase of 18.18 points, moving up to 78,491.05, and NSE Nifty 50 improved by 22.55 points, ending at 23,750.20.
The day started with a robust opening, as banking stocks surged. However, the rally lost steam as investors turned cautious in the absence of fresh triggers. According to Aditya Gaggar, Director at Progressive Shares, the bulls failed to breach the critical resistance level of 23,850, and thus the session was subdued.
“After an initial uptick, indices oscillated in a narrow range, reflecting lackluster participation in broader markets,” he said.
Top Gainers and Losers Apart from Sensex and Nifty
Of the day’s top gainers, Adani Ports and Special Economic Zone rose 5.22%, followed by Mahindra & Mahindra, which gained 1.90%. SBI Life Insurance increased 1.66%, Maruti Suzuki gained 1.63%, and Shriram Finance increased 1.56%.
On the negative side, Titan Company was leading the pack of losers down 1.17%. Asian Paints slipped by 0.99%. Tata Consumer Products and JSW Steel each fell 0.80%. Grasim Industries slipped 0.67% to round off the majors.
Sectoral Snapshot of Highs and Lows
Most Nifty sectoral indices ended in the green, with Nifty Auto leading the pack at 0.84%. Nifty Healthcare gained 0.78%, while Nifty Pharma added 0.68%. Other notable gainers included Nifty Financial Services Ex-Bank (0.49%) and Nifty Consumer Durables (0.44%).
Nifty Media, however, witnessed the steepest fall, down 1.46%. Nifty FMCG fell by 0.32%. Private banks, metals, and IT stocks also fell marginally.
Outlook
The market sentiment is cautious, as investors await clearer cues. Analysts say sideways movement may continue until year-end, with major triggers such as the earnings season and budget announcements likely to shape the future direction.