Stock Market Today | Sensex, Nifty end flat; HUL drags FMCG, energy stocks gain
Nifty50 ended at 24,632, while the Sensex closed near 80,589. Here are the key takeaways from the stock market today.
India's stock market recorded its longest daily losing streak in nearly seven months, as weakness in private banks outweighed gains in energy stocks.
The Nifty 50 fell 0.08% to 24,634.90 points, while the BSE Sensex also shed 0.08% to 80,364.94 — the seventh straight session of declines. Ten out of the 16 major indices advanced.
“Investors are cautious in a holiday-shortened week and on persistent foreign selling,” Vinod Nair, head of research at Geojit Investments, told Reuters. Uncertainty over the India-US trade deal and sustained pressure on IT and pharma stocks remain near-term drags, he said.
1. Energy leads the pack
Oil and gas stocks were the standout performers. Oil India Ltd. advanced after reports of fresh exploration successes and stronger operational commentary, helping the sector buck the broader trend. BPCL, HPCL and Indian Oil rose 4.2%, 4.6% and 2.9%, respectively.
2. HUL drags FMCG lower
On the flip side, Hindustan Unilever Ltd. (HUL) weighed on the FMCG pack. The stock fell amid demand-side concerns flagged by analysts, with other staples following suit. The weakness in consumer names capped any meaningful upside for the market.
3. Mixed global cues
Overnight, US equities ended cautious as investors weighed fresh macro data and tech earnings, while Asian peers mirrored the subdued tone. The lack of strong global signals kept Indian traders on the sidelines.
4. Flows remain muted
Foreign institutional investor (FII) activity remained modest, with no strong directional bets. Domestic institutions extended selective support, particularly in energy and financial counters.
5. Sectoral divergence
• Winners: Energy, oil & gas, realty, and PSU banks saw buying interest.
• Losers: FMCG and discretionary stocks declined, while IT stocks stayed soft on lingering effects of $100,000 H-1B visa fees.
6. Stock movers
Besides Oil India, Wockhardt was among notable gainers in the mid-cap space. On the losing side, HUL and IT majors like Tech Mahindra and Infosys ended weaker.
7. Broader market trend
Small-cap and mid-cap indices showed more volatility than the benchmarks, with investors rotating into select PSU and energy counters, but at the end of the day, small-caps were little changed while mid-caps rose about 0.3%.
Market breadth was balanced, with advances and declines almost even on the NSE. The India VIX held steady, indicating no spike in volatility.
8. RBI Monetary Policy
Traders will now watch out for cues from the Reserve Bank of India, upcoming FII flow trends, and global macroeconomic data.
Private banks slipped 0.3%, with Axis Bank dropping 1.9% after Citi Research flagged near-term pressure on net interest margins. Investors are awaiting the monetary policy decision, due on Wednesday, with nearly three-quarters of economists in a Reuters poll expecting rates to remain unchanged.
Technical charts suggest immediate support for the Nifty 50 at 24,600, while resistance lies near 24,750. For the Sensex, the key range to watch is 80,250–80,900.
