India’s benchmark indices saw minimal movement on Thursday, with trading activity subdued as the year draws to a close and investors await fresh triggers.
The Nifty 50 edged up by a marginal 0.1% to close at 23,750.2, while the BSE Sensex remained almost unchanged, ending at 78,472.48. Both indices initially gained about 0.5% in early trade before surrendering their advances later in the session.
“Domestic equities are taking a breather after last week’s declines, with the Nifty 50 hovering around the support zone of its 200-day moving average,” commented Ajit Mishra, Senior Vice President of Research at Religare Broking.
Last Friday, the benchmarks recorded their sharpest weekly drop since June 2022, impacted by the U.S. Federal Reserve’s indication of slower rate cuts in 2025 and continued foreign outflows. Since falling below the critical 200-day moving average on December 20, the Nifty has struggled to reclaim the level for four consecutive sessions.
Analysts predict trading volumes will remain light until the end of the year, with significant market direction expected to emerge only after the corporate earnings season kicks off in the second week of January.
Sectoral Snapshot:
Broader market indices, including smallcaps and midcaps, mirrored the benchmarks and ended largely unchanged.
Stock Highlights:
- Panacea Biotech surged 3.9% after announcing a $14.95 million UNICEF order for 115 million doses of its bivalent oral polio vaccine (bOPV) for 2025.
- NTPC Green Energy declined 5.25%, coinciding with the expiration of the lock-in period for 50% of its anchor investor shares.
- Epack Durable, a home appliances manufacturer, gained 4% following ICICI Securities initiating coverage with a “buy” rating, citing growth prospects in its air conditioner segment and expanding production capacity.
As the year winds down, investors seem to be treading cautiously, awaiting clearer signals for the markets in the new year.
