Sensex, Nifty settle on a flat note; IB Housing, Adani Wilmar jump up to 10%

Domestic equity markets ended the week on a flat note and little changed on Friday. The positive global cues led to a positive start during the session but profit booking on higher levels kept traders on tenterhooks. Rising crude oil prices, upsurge in bond yields and consistent FII selling is weighing on sentiments on Dalal Street.

For the day, BSE Sensex shed 15.44 points, or 0.02 per cent, to end the day at 73,142.80. NSE's Nifty50 pack eased merely 4.75 points, or 0.02 per cent to end the day at 22,212.70. Broader markets managed to settle in green as the BSE midcap index rose one-fourth a per cent, while the smallcap index settled half-a-per cent higher. Fear gauge India VIX dropped to 14.97-level.

While the global market continues to observe mixed cues, the Indian market has managed to remain strong and manifest bullish sentiments. Notably, at present, there are no prominent signs of reversal of this trend. In fact, the market is currently witnessing a new uptrend which is likely to continue for some time, said VLA Ambala, Co-Founder at Stock Market Today.

"During the day, the Nifty recorded a fresh all-time high of 22297, ending the week by closing above the 22200 range. This movement indicates a sense of optimism in the stock market and confidence among investors. During intraday, the index is expected to find support between the range of 22170 and 22100, with key resistance around 22340 and 22450 levels," she adds.

On a sectoral front, the Nifty PSU Bank index dropped more than one per cent, while the Nifty oil & gas index shed close to half a per cent. The Nifty IT and metal indices were other key laggards. Among the gainers, the Nifty media index surged about 1.4 per cent, while the realty index was up one per cent. Nifty consumer durable index was also up 0.6 per cent for the day.

In the Nifty50 pack, Bharat Petroleum shed 1.4 per cent, while HCL Technologies was down 1.3 per cent. Maruti Suzuki, Asian Paints, ONGC and Tata Consultancy Services dropped more than a per cent each. Among the gainers, Bajaj Finserv added 1.5 per cent, while HDFC Life Insurance added more than a per cent. LTIMindTree and Dr Reddy's Labs also rose about a per cent.

"The domestic market paused momentarily today after reaching another record high earlier in the day, driven by positive signals from global markets. Notably, the capital goods and industrial sectors showed strength, supported by advancements in manufacturing and services, said Vinod Nair, Head of Research, Geojit Financial Services.

"As the earnings season winds down, the market is eagerly awaiting new catalysts however, relying on the pre-election momentum. Concerns linger over rising crude oil prices, surging US bond yields, and stretched valuations, likely prompting continued selling by FIIs," he said.

A total of 3,933 shares were traded on BSE on Thursday, of which 2,079 settled with gains. 1,739 stocks ended the session with cuts while 115 shares remained unchanged. During the day, 344 shares hit their upper circuit, whereas 232 shares tested the lower circuit levels for the day.

In the broader markets, SML Isuzu and Yasho Industries hit upper circuits of 20 per cent each. Voltamp ended 11 per cent higher, while Usha Martin and Indiabulls Housing Finance surged 10 per cent each. Shriram Properties rose about 9 per cent, while Adani Wilmar and Lincoln Pharma were up 8 per cent each.

On the downside, Agro Tech Foods shed more than 7 per cent, while Prataap Snacks and Orient Cements declined 6 per cent each. Jaiprakash Associates, Keystone Realtors and Khaitan Chemicals and Fertilizers dropped 5 per cent each. Centrum Capital and Teamlease Services were down 4 per cent each for the day.

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