Stock Market Today: Sensex, Nifty End Little Changed As Losses In M&M Weigh Gains In ITC

• The local currency weakened 3 paise to close at 83.56 against the US dollar.

• It closed at 83.53 on Wednesday.

Source: Bloomberg

Recovering some of early losses, Indian benchmark indices ended little changed as ITC Ltd., Oil and Natural Gas Corp lead gains. Meanwhile, Mahindra & Mahindra Ltd., and Bajaj Finance Ltd. dragged on the benchmark.

The NSE Nifty 50 settled 8.50 points or 0.04% lower at 24,315.95, and the S&P BSE Sensex ended 27.43 points or 0.034% down at 79,897.34.

During the day, the Nifty 50 fell 0.54% to 24,193.75, and the Sensex declined 0.58% to 79,464.38.

"Opening gains did not last long as the Index quickly erased all its gains to retest its previous day's lower levels," said Aditya Gaggar, director, Progressive Shares.

In the mid-session, select heavyweights helped the Index to recover to end the weekly expiry trade at 24,315.95 with a marginal loss of 8.50 points. As far as sectors are concerned, Media was the top gainer followed by FMCG while Realty was the major loser by ending the trade with a loss of 1.49% Mid and Smallcaps managed to hold their opening gains and outperformed the Benchmark Index, he said.

"Our view on the Index remains the same, i.e. as long as the Index holds a level of 24,200 uptrend will remain intact and on the higher side, 24,460 will be a critical hurdle," Gaggar added.

Mahindra & Mahindra Ltd., Bajaj Finance Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., and HDFC Bank Ltd. pressured the Nifty 50 index.

ITC Ltd., Oil and Natural Gas Corp., Tata Motors Ltd., State Bank of India, and Coal India Ltd. added to the benchmark index.

On NSE, eight sectors advanced, three declined, and one remained flat out of 12. The NSE Nifty Realty was the worst performing sector, while the NSE Nifty Oil & Gas emerged as the top gainer.

Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap were trading 0.34% and 0.57% higher, respectively.

On BSE, 15 sectors advanced, five declined out of 20. The S&P BSE Realty declined the most, while the S&P BSE Oil & Gas rose the most.

Market breadth was skewed in favour of buyers. Around 2,180 stocks advanced, 1,734 stocks declined, and 109 stocks remained unchanged on BSE.

The NSE Nifty FMCG scaled a fresh high of 59,548.20. It was trading 0.32% higher at 59,538.10 as of 3:18 p.m.

Tata Consultancy Services Ltd. is all set to kick-off the first quarter earnings season of fiscal 2025.

TCS may report a 3.8% sequential decline in net profit to Rs 11,957 crore, according to consensus estimates compiled by Bloomberg. The topline may rise 1.4% to Rs 62,121 crore.