Sensex closes with gains of 114 points, Nifty slips as metal, pharma, PSU banks weigh

MUMBAI: The share markets ended on a mixed note on Thursday, with the Sensex gaining 113.61 points, or 0.15 per cent, to close at 78,079.96, while the Nifty 50 declined 40.10 points, or 0.16 per cent, to settle at 24,395.85 as weakness in metal, pharma and PSU bank stocks weighed on the broader market.

The market remained supported by softer-than-expected inflation readings in both India and the US, which strengthened expectations that the US Federal Reserve and the Reserve Bank of India could maintain a patient policy stance in the near term.

Vinod Nair, Head of Research, Geojit Investments Limited, said, “Softer-than-feared inflation readings in both the US and India provided support to investor sentiment, reinforcing expectations that the Fed and the RBI can maintain a patient policy stance in the near term.”

However, the gains remained limited amid continued concerns over elevated crude prices and geopolitical uncertainty in the Middle East.

Nair said the ongoing earnings season has broadly supported confidence in India’s underlying demand and corporate resilience, helping cushion the impact of external headwinds. He added that market direction in the near term would depend on developments in energy markets, geopolitical risks and the sustainability of foreign capital inflows.

Sector-wise, the market remained under pressure, with most NSE sectoral indices ending in the red. The Nifty Metal index declined 1.28 per cent, while the Nifty Pharma index fell 0.42 per cent and the Nifty PSU Bank index lost 0.58 per cent. In contrast, Nifty FMCG, Nifty IT and Nifty Media closed higher.

The weakness in metal stocks was among the key drags on the Nifty. Despite the broader pressure, some sectors managed to remain positive, limiting the decline in the benchmark index. The Indian rupee also weakened during the session. The domestic currency depreciated by 10 paise against the US dollar and was trading at Rs 95.43 per dollar at the time of filing this report.

Brent crude oil prices declined marginally by 1.70 per cent but continued to remain elevated at USD 87.47 per barrel at the time of filing the report.

Tata Group stocks traded mixed for the second consecutive session after the announcement of Tata Sons Chairman N Chandrasekaran’s decision not to offer himself for reappointment after his current term ends on February 20, 2027.

TCS gained 0.35 per cent to close at Rs 2,358 per share, while Tata Motors Passenger Vehicles rose 1.52 per cent to Rs 348 per share. Tata Chemicals also gained 0.14 per cent to close at Rs 674 per share. On the other hand, Titan Company declined 1.18 per cent to Rs 5,036, while Voltas fell 0.34 per cent to Rs 1,285 per share.

In the other Asian markets, Japan’s Nikkei 225 gained 1.28 per cent to close at 68,403, while Taiwan’s weighted index rose more than 1 per cent to 46,021. South Korea’s KOSPI surged 3.44 per cent to 6,813. Singapore’s Straits Times declined 0.01 per cent to 5,720, while Hong Kong’s Hang Seng index fell 0.21 per cent to 25,387.

Overall, the domestic market ended with a mixed trend, with the Sensex managing to close higher while the Nifty remained in negative territory as sectoral weakness limited gains despite support from softer inflation data and resilient corporate earnings. (ANI)