NEW DELHI [India], December 30 (ANI): Indian equity indices closed largely steady on Tuesday, reflecting thin year-end trading. The Sensex ended at 84,675.08 points, down 20.46 points, while the Nifty closed at 25,938.85 points, down 3.25 points, according to NSE data.
On the sectoral front, Nifty auto, metal, and PSU bank indices traded higher, whereas Nifty IT, realty, and chemicals declined sharply. Domestic markets opened subdued, with sentiment remaining cautious due to a lack of positive triggers. Experts expect the market to stay range-bound with a negative bias, influenced by FPI outflows, monthly index expiry, and mixed global cues.
“Indian equity markets ended flat in a lacklustre session amid mixed global cues, overshadowing strong November IIP data showing 6.7 per cent growth—the highest in 25 months. Muted year-end activity and persistent concerns over FII outflows kept investors on the sidelines,” said Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services Ltd.
Vinod Nair, Head of Research at Geojit Investments Limited, noted that while a stronger rupee provided some relief, overall sentiment remained cautious amid persistent FII outflows. Sector-wise, auto stocks gained on robust IIP data, metal stocks rose due to higher prices, and PSU banks advanced on improved asset quality. He added that markets are expected to stay sideways, awaiting outcomes from US-India trade talks and the Q3 earnings calendar.
Ajit Mishra, SVP of Research at Religare Broking Ltd, advised a stock-specific approach, highlighting that banking, auto, and metal stocks continue to show relative strength, while other sectors may contribute on a rotational basis amid mixed global cues and subdued trading volumes.
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