The benchmark Sensex ended marginally lower at 84,675.08, while the Nifty 50 settled in the red at 25,938.85, reflecting a cautious mood among investors. Market participants remained selective, focusing on sector-specific opportunities rather than broad-based buying.
On the National Stock Exchange, metal majors led the gainers’ chart. Bajaj Auto rose 2.32 per cent, Hindalco gained 2.12 per cent, Shriram Finance advanced 1.99 per cent, Tata Steel climbed 1.96 per cent, and Mahindra & Mahindra added 1.89 per cent. Analysts attributed the rally in metal stocks to firm global commodity prices and expectations of improved demand outlook.
In contrast, several frontline stocks ended lower. Eternal, Eicher Motors, Tata Consumer Products, Max Healthcare, and IndiGo declined between 1.5 per cent and 2.2 per cent, weighing on the indices.
Sectorally, barring metals, auto, PSU banks, private banks, and financial services, most indices on the NSE witnessed selling pressure. Defensive sectors and consumption-related stocks underperformed as investors booked profits after recent gains.
Global markets offered mixed signals. In Asia, Japan’s Nikkei slipped 0.19 per cent, while South Korea’s KOSPI traded flat. Hong Kong’s Hang Seng rose 0.26 per cent, whereas China’s Shanghai Composite edged lower. Overnight, US markets closed weaker, with the Dow Jones, Nasdaq Composite, and S&P 500 ending lower, adding to cautious sentiment in domestic equities.
Investor flow data highlighted continued support from domestic institutions. On December 29, Foreign Institutional Investors (FIIs) sold shares worth ₹2,759.89 crore, while Domestic Institutional Investors (DIIs) bought equities worth ₹2,643.85 crore. Cumulatively, FIIs have remained net sellers in recent months, but sustained DII buying has helped limit market downside.
Market experts said the near-term outlook remains range-bound, with stock-specific action likely to dominate until fresh domestic or global triggers emerge.
