MUMBAI– Indian equity markets closed flat on Friday after a choppy session, as strong buying in automobile stocks was offset by declines in IT and FMCG shares.
The benchmark Sensex slipped 7.25 points, or 0.01 percent, to settle at 80,710.76. The 30-share index opened higher at 81,012.42 but swung between an intraday high of 81,036.56 and a low of 80,321.19 before ending marginally lower.
The Nifty 50 inched up 6.70 points, or 0.03 percent, to close at 24,741.0.
“Indian equities ended flat but sentiment stayed mildly positive as key indices rebounded from intraday lows on buying at support levels. The auto sector continued to extend gains on expectations of a demand revival,” said Vinod Nair, Head of Research at Geojit Financial Services.
Broader markets outperformed, with mid- and small-cap stocks seeing stronger momentum as domestic investors rotated into growth and value opportunities beyond blue chips. Global cues also provided some support, with U.S. and Asian markets trading higher ahead of the U.S. jobs report, a key indicator for Federal Reserve rate-cut expectations.
Among the Sensex gainers were Mahindra & Mahindra, Maruti, PowerGrid, Bharti Airtel, Tata Motors, Bajaj Finserv, Tata Steel, Sun Pharma and Axis Bank. On the losing side, ITC, HCL Tech, TCS, Hindustan Unilever, Tech Mahindra, Infosys, L&T, Titan, Kotak Bank and Ultratech Cement ended in the red.
Sectoral indices posted a mixed performance. Nifty Auto jumped 325.75 points, or 1.25 percent, while Nifty Financial Services rose 35.90 points, or 0.14 percent. In contrast, Nifty IT slipped 507 points and Nifty FMCG dropped 811 points, or 1.42 percent.
In the broader market, Nifty Small Cap gained 33 points, or 0.19 percent, and Nifty Midcap 100 added 116 points, or 0.20 percent, while Nifty 100 finished flat. (Source: IANS)
