The Indian stock market saw a volatile session today, March 25, with benchmark indices closing on a flat note. While IT stocks provided some cushion, broader market sentiment remained weak, dragging down most sectoral indices.
The BSE Sensex ended the day at 78,017.19, gaining a marginal 32.82 points or 0.04%, while the NSE Nifty closed at 23,668.65, inching up by 0.04%. The Nifty Bank, however, struggled and closed at 51,607.95, down 0.19%.
“After a six-day recovery rally, the broader market witnessed some profit booking, particularly in small and mid-cap stocks, where premium valuations still exist. On the other hand, the IT sector posted gains, driven by positive global cues stemming from expectations of softer tariffs and a recent correction in valuations. In the near-term, investor sentiment is expected to be cautious as they await clarity on trade policy between US-India,” said Vinod Nair, Head of Research, Geojit Investments Limited.
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Among the top performers in the Nifty 50, UltraTech Cement, Bajaj Finserv, Trent, Grasim, and Infosys emerged as major gainers. On the flip side, IndusInd Bank saw a sharp fall of 5%, followed by Dr. Reddy’s, Coal India, Adani Enterprises, and Adani Ports, which were among the top losers.
“We are of the view that after a promising uptrend rally, the market is currently experiencing some profit booking at higher levels. However, the short-term texture of the market remains positive. For day traders, 23,600/77700 would be the key support zone. Above this level, the market could retest the range of 23,850/78300 to 23,900/78500. On the flip side, a dismissal of 23,600/77700 could alter market sentiment. Below this level, the market could slip to 23,500 to 23,450/77300-77200,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Sectoral drag
Most sectoral indices ended in the red, barring IT stocks, which showed resilience. Meanwhile, auto, capital goods, consumer durables, metal, oil & gas, power, PSU bank, realty, and telecom stocks suffered losses in the range of 1 to 1.5%. v
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The broader market was also under pressure,
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