Synopsis : Indian equity markets traded lower in a holiday-thinned session as selling pressure in heavyweights like Airtel and Bajaj Finance dragged benchmarks down. However, strength in small- and mid-cap stocks, led by railway names, kept broader market sentiment resilient.
Indian equity benchmark indices traded with modest losses on Friday, as investors returned after the Christmas holiday to a market short on fresh triggers. With global cues muted and domestic catalysts limited, profit-taking in select index heavyweights kept benchmark indices under pressure, even as broader markets showed relative strength.
Around 11:00 AM, the BSE Sensex was trading at 85,218.52, down 190 points or 0.22 per cent, while the NSE Nifty50 slipped 60.8 points or 0.23 per cent to 26,081.3.
On the Sensex, Bajaj Finance, Eternal, Sun Pharma, TCS, Tata Steel, and HCLTech emerged as the top drags, reflecting selling interest in financials, IT, and select pharma stocks. In contrast, BEL, Titan, NTPC, Power Grid, and ICICI Bank provided some support on the upside, limiting sharper losses in the headline indices.
The broader market continued to outperform benchmarks. The Nifty MidCap index edged up 0.07 per cent, while the Nifty SmallCap index gained 0.21 per cent, signalling selective risk appetite among investors. Railway-related stocks remained in focus, witnessing strong buying interest amid expectations of sustained government spending on infrastructure.
Sector-wise, Nifty Metal rose 0.3 per cent, while Nifty Consumer Durables outperformed with a gain of 0.58 per cent. On the downside, Nifty IT slipped 0.4 per cent, weighed down by large-cap tech stocks, while Nifty Auto declined 0.27 per cent.
IPO Corner
In the primary market, the basis of allotment for the Gujarat Kidney IPO is set to be finalised today. In the SME segment, E to E Transportation Infrastructure IPO opens for subscription, while IPOs of Apollo Techno Industries, Bai Kakaji Polymers, Admach Systems, Nanta Tech, and Dhara Rail Projects enter their final day of bidding.
With volumes expected to remain light in the holiday-shortened week, investors are likely to stay stock-specific, keeping a close watch on broader market trends and upcoming global cues.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Market investments are subject to risk, and readers are advised to consult a qualified financial advisor before making any investment decisions.
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