Sensex, Nifty Stay In Consolidation Mode As Investor Focus On Broader Markets
Closing Bell: Another Subdued Session
Indian equity markets consolidated for the second straight day with benchmark indices barely moving from the levels at which they ended on Wednesday.
The S&P BSE Sensex ended 0.15% lower at 38,310 while the NSE Nifty 50 index ended unchanged at 11,300. As of closing today, both Sensex and Nifty are up over 0.7% on a weekly basis.
Among the sectoral indices, Auto, Media and Metal stocks outperformed. The Media index ended 1.5% higher while the Auto and Metal index ended with gains of 1.4% and 1.2% respectively.
Pharma and PSU banks were the laggards in today's session. The Pharma index ended lower for the third straight day, down 1% while the PSU Bank index fell a similar quantum.
Broader markets outperformed in today's trade. The midcap index ended with gains of 1.7% while the smallcap index ended 0.8% higher.
The India Volatility Index ended lower for the eighth straight day, down 2.3% to 20.36. This is the lowest level for the gauge in six months. This is also the longest losing streak for the VIX since March 2015.
Market breadth ended in favour of the gainers. 1,092 stocks on the NSE ended with gains while 745 ended with losses.