Indian indices pared early losses and traded flat on Thursday after opening lower, mirroring weak global sentiment.
The BSE Sensex traded 100 points lower at 70,405, while the Nifty 50 index hovered around 21,130 – down 20 points, at 10:25 am.
Axis Bank, L&T, Sun Pharma, ICICI Bank, IndusInd Bank, and JSW Steel dragged on the Sensex. However, gains in PowerGrid, Wipro, Tata Motors, Reliance, and NTPC capped the downside.
BSE Midcap and Smallcap indices moved higher in the broader market – outperforming benchmarks.
Sectorally, auto, banking, realty, and capital goods sectors traded lower. IT, metal, oil & gas, and power stocks saw buying interest.
This December has been the second best for IPOs since 1996, with 11 companies raising Rs 8,182 crore.
On Wednesday, Sensex had plunged 931 points to end at 70,506 and Nifty 50 shed 303 points to settle at 21,150 amid across-the-board selling.
Asian peers traded lower as Japan’s Nikkei fell 1.5% and Hang Seng, Shanghai Composite, and Kospi declined to 1%.
Market experts remain cautious in the near term given premium valuations, hawkish global central banks, and higher volatility typical of year-end.
