The domestic key equity indices settled the session on a flat note. The NSE Nifty 50 rose 8 points or 0.03% to settle at 22,552, while the BSE Sensex slightly declined by 7.5 points or 0.01% to finish at 74,333.
The Nifty Oil & Gas was the top gainer among the sectoral indices for the second straight session, followed by Nifty Metal, gaining more than 0.55% to close at 10,101.50.
Underperforming benchmark indices, the Nifty Bank fell 130 points or 0.27% to close at 48,497.50. The BSE Midcap jumped 342 points or 0.75% to close at 45,607.
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In the broader markets, small- and micro-cap stocks closed the day on a positive note. The volatility index India VIX cooled down 1.85% to the 13.47 level.
Also, the market breadth remained in favour of bulls. Reliance Industries (3.04%) was the top gainer in the Nifty 50, followed by Tata Motors (1.23%), BEL (1.19%), Bajaj Auto (1.19%), and Hindalco Industries (1.17%). Meanwhile, Infosys, NTPC, Shriram Finance, Infosys, and BPCL were the major losers in the Nifty 50.
“The global market is experiencing a heightened uncertainty due to US tariff impositions and counter threats from its peers. This ambiguity has led to increased risk aversion and diminished appeal of equities. EMs have been particularly affected, experiencing significant outflows. Lately, S&P 500 index is showing signs of a deeper correction, reflecting concerns about the potential impact of tariffs on the US economy. In contrast, Indian markets have demonstrated resilience off late despite looming trade war,” said Vinod Nair, Head of Research at Geojit Financial Services.
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