MUMBAI — Indian equity markets ended largely flat Thursday as investors remained cautious ahead of the Reserve Bank of India’s Monetary Policy Committee decision, which is scheduled to be announced Friday.
The Nifty closed 10.95 points, or 0.05%, higher at 23,416.55, while the Sensex rose 13.84 points, or 0.02%, to end at 74,360.01.
Market analysts said 23,500 remains a key level for the Nifty’s short-term direction.
“A decisive close above this level could improve sentiment and pave the way towards 23,600, followed by 23,800, where significant call writing and supply are visible,” an analyst said.
“On the downside, 23,300–23,350 continues to act as immediate support, followed by the stronger 23,150–23,200 demand zone, which has attracted buying interest repeatedly over the last few sessions,” the analyst said.
Despite the modest gains, overall market sentiment remained subdued as investors largely stayed on the sidelines ahead of the central bank’s policy outcome.
Infosys, Bajaj Finserv and Hindalco Industries were among the major laggards in the Nifty pack, weighing on the index during the session. Weakness in select heavyweight stocks capped gains in the benchmark indices.
Broader markets performed better than the benchmarks. The Nifty MidCap index rose 0.46%, while the Nifty SmallCap index gained 0.49%.
Sector performance was mixed. Nifty IT, Nifty Metal and Nifty Chemical underperformed, reflecting pressure in export-linked and commodity-driven segments.
Consumer-facing sectors saw buying interest, with Nifty Consumer Durables and Nifty Media among the top performers.
Investors are now awaiting the outcome of the RBI’s Monetary Policy Committee meeting, which is expected to offer cues on interest rates and liquidity conditions and help shape near-term market direction. (Source: IANS)
