Nifty, Sensex Trade In Narrow Range Amid Lack Of Triggers: Midday Market Update
At 11:50 p.m., the NSE Nifty 50 was trading flat at 24,138.95, and the BSE Sensex was little-changed at 79,059.45.
India's key stock indices were little changed through midday on Wednesday amid a lack of fresh triggers.
At 11:50 p.m., the NSE Nifty 50 was trading flat at 24,138.95, and the BSE Sensex was little-changed at 79,059.45.
"The Nifty has broken on the downside from its doji candle, and weakness will continue to persist unless it does not cross 24,400 levels on the higher side," said Vikas Jain, head of research at Reliance Securities.
"The 50-day average breakdown at 24,000 levels will trigger a sharp down move across sectors to stocks to test the lower pivot range of 23,650 levels," he said.
.png?auto=format%2Ccompress)
.png?auto=format%2Ccompress)
.png?auto=format%2Ccompress)
Shares of Tata Consultancy Services Ltd., ITC Ltd., and Infosys Ltd. contributed the most to the gains in the Nifty 50.
While those of ICICI Bank Ltd. and Coal India Ltd. weighed on the index.
On NSE, nine sectors declined and three advanced. The NSE Nifty IT rose the most, while the NSE Nifty Metal fell the most.
.png?auto=format%2Ccompress)
.png?auto=format%2Ccompress)
The broader indices were trading in the red, with the BSE Midcap and Smallcap falling 0.64% and 0.88%, respectively, through midday on Wednesday.
16 sectoral indices on the BSE were trading in the red, led by BSE Commodities and BSE Power. Four were trading higher, with BSE Information Technology in the lead.
The market breadth was skewed in the favour of the sellers. Around 2,382 stocks declined, 1,360 advanced, and 115 remained unchanged on the BSE.
