The stock market remained rangebound for the fourth consecutive session on Wednesday, with gains in IT, auto, and FMCG stocks, while the energy sector lagged.
Due to select heavyweights, including Infosys and Bajaj Finance, Nifty 50 snapped its three-day losing run to end in the green with mild gains.
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At close, the Sensex was up 16 points or 0.02% at 81,526, and the Nifty was up 32 points or 0.1% at 24,642.
Sensex opened at 81,568.39 and touched intraday highs and lows of 81,742.37 and 81,383.42 while Nifty 50 opened at 24,620.50 and touched its intraday high and low of 24,691.75 and 24,583.85.
Mid and small-caps continued their outperformance with BSE Midcap index rose 0.25%, while the Smallcap index climbed 0.35%.
On Nifty, the top gainers were Trent (2.69%), Bajaj Finance (2.58%), Britannia Industries (2.14%), Shriram Finance (1.94%), and Bajaj Finserv (1.39%). On the losing side were JSW Steel (1.26%), Adani Ports & Special Economic Zone (1.20%), NTPC (0.99%), State Bank of India (0.68%), and Axis Bank (0.55%).
IT, auto, and FMCG stocks led the gains on Nifty.
Nifty Bank fell in the red while the PSU Bank index declined almost 1%. The IT index gained 0.3%, Nifty Auto index rose 0.4%, Nifty FMCG index rose 0.4%.
Nifty Metal ended flat but had gained significant attention intraday by rising over 1%.
Nifty Media, Nifty Bank and Nifty Private Bank indices also ended in the red, falling up to half a per cent.
Among the key individual performers, shares of Bajaj Finance gained over 2% a day after its investor meet.
Shares of Awfis Space Solutions surged close to 10% after a major block deal involving 85.3 lakh shares worth Rs 606 crore took place on the bourses.
Swiggy shares dropped over 4% in early trade, erasing all of its previous day losses.
Eyes are on the key inflation data from the US and India’s CPI print on December 12. These data points are expected to offer guidance on future rate trajectories for both economies.
Further, the meeting of the US Federal Open Market Committee (FOMC) is scheduled for December 17-18. Market participants expect a 25 bps rate cut on December 18.
