The benchmark stock market indices concluded the trading session with modest gains, although volatility persisted, dampening the sentiment on Dalal Street.
The S&P BSE Sensex recorded an uptick of 66.14 points, settling at 73,872.29, while the NSE Nifty50 closed 27.20 points higher at 22,405.60. Despite these incremental gains, both indices experienced subdued activity, mirroring the broader market sentiment.
Within the sectoral landscape, Nifty Bank and Nifty Financial Services registered marginal upticks, advancing by 0.3 percent each. Notably, Nifty Oil & Gas emerged as the standout performer, notching a robust gain of 1.87 percent.
Conversely, Nifty IT witnessed a decline of nearly 0.8 percent, while Nifty Media sustained a notable setback, plunging by almost 2 percent.
Among the top performers on the Nifty50 were NTPC, HDFC Life, Power Grid, ONGC, and BPCL. In contrast, Eicher Motors, JSW Steel, SBI Life, M&M, and Britannia emerged as the primary laggards.
Analyzing the market dynamics, Aditya Gaggar, Director of Progressive Shares, remarked, "The trading session concluded with a modest gain, marking an end to the range-bound activity, as reflected in the Nifty50's slight uptick of 27.20 points, reaching 22,405.60. Notably, a surge in energy stocks propelled both the index and the sector, contributing to the positive sentiment."
Gaggar further noted, "Selective buying was evident in the pharmaceutical and PSU banking segments, while the media sector continued to languish, experiencing a notable decline of over 1.80 percent."
"A mixed trend was observable in the broader markets, with midcaps largely aligning with the frontline index's performance, albeit small-caps underperformed," Gaggar concluded.
