Nifty, Sensex End Flat; Mid, Smallcaps End in Green

Indian benchmark indices ended flat during today’s trading session. At close, Sensex was down 28.21 points or 0.04 percent at 75,939.18, while Nifty tumbled 12.40 points or 0.05 percent at 22,932.90. Investors remained extremely cautious after U.S. president Donald Trump vowed to impose a 25% tariff on imports of auto, semiconductor, and pharmaceutical products.

While Dr Reddy's Labs, TCS, HUL, Infosys, Adani Enterprises were among the laggards on the Nifty, Bharat Electronics, Hindalco, L&T, Axis Bank, Eicher Motors ended in green.

Sector-wise, the IT index was down by 1.3% and pharma index slipped by 0.7%. Meanwhile, media, energy, metal, PSU bank, realty, capital goods soared in the range of 1-2%.

About 380 stocks fell to their 5Nifty, Sensex End Flat; Mid, Smallcaps End in Green

2-week lows, which included Natco Pharma, Zydus Life, Timken India, Grindwell Norto, Carborundum Universal, Aether Industries, Star Health, Kirloskar Oil, Can Fin Homes, PVR INox, Mahindra Life, Sun Pharma Advanced, Ratnamani Metal, Kajaria Ceramic, Godrej Consumer, KNR Construction, Central Bank, Elgi Equipments, Sonata Software, among others.

The market kicked off with subdued gains owing to concerns of tariff-related trade war. However, the index moved up before witnessing resistance around the 23,050 level. Later on, the session swung through gains and losses for the remainder of the session, before closing at 22,932.90 with a marginal loss of 12.40 points.

Rupak De, Senior Technical Analyst at LKP Securities said, “The Nifty has moved within a band, keeping the volatile vibe intact. On the lower end, 22,800 is likely to remain crucial support. Until 22,800 is broken, we do not expect a significant fall in the market. A decisive fall below 22,800 might trigger a meaningful correction. However, until that happens, we believe the market is likely to remain range-bound. On the higher end, 23,000/23,150 might act as resistance for Nifty. A decisive breakout above 23,150 could induce a significant rally in the market.”