Sensex, Nifty end nearly flat as metal, realty offset IT weakness

The Sensex rose just 3.11 points to close at 77,540.83 on Friday, while the Nifty gained 20.15 points, or 0.08 per cent, to settle at 24,252.00.

Indian equity benchmarks ended largely flat in a volatile and rangebound session, as buying in metal and realty stocks offset selling across IT, FMCG, auto, media and pharma shares.

Investors remained cautious amid elevated crude oil prices, renewed pressure in global bond yields, and mixed cues from overseas markets through the session.

The near-flat close came after a choppy day of trade in which the indices swung between gains and losses without establishing a clear direction.

Sector rotation was evident throughout the session, with traditionally defensive sectors like metal and realty attracting buying interest even as growth-oriented sectors such as IT saw profit-booking.

Market participants said the session reflected a broader wait-and-watch approach as investors assess the impact of crude prices and global interest rate signals on near-term earnings.

The IT sector’s weakness came against a backdrop of concerns over discretionary technology spending among major overseas clients, a theme that has weighed on the sector through much of the year.

Broader market indices showed more resilience than the headline benchmarks, with the Nifty Midcap and Nifty Smallcap indices posting modest gains even as the Sensex and Nifty struggled for direction.

Foreign institutional investor flows and domestic mutual fund buying remained closely watched factors, with traders looking for signs of sustained inflows to support a more decisive move in either direction next week.

Analysts said trading volumes on both the BSE and NSE were broadly in line with recent averages, suggesting the flat close reflected genuine indecision among investors rather than thin, low-conviction trade.

Global cues also played a role in shaping sentiment, with mixed overnight signals from Asian and US markets contributing to the cautious tone that persisted through Friday’s session in India.

Photo by Kumar Appaiah, Wikimedia Commons, CC BY-SA 3.0