In a day marked by high volatility due to the scheduled monthly expiry of derivative contracts, benchmark stock indices, Sensex and Nifty, managed to close with gains on Thursday. The 30-share BSE Sensex rebounded by 195.42 points or 0.27%, settling at 72,500.30. The index experienced fluctuations throughout the day, oscillating between a high of 72,730.00 and a low of 72,099.32.
The broader Nifty of NSE also recorded gains, climbing by 31.65 points or 0.14% to close at 21,982.80. Notable gainers among Sensex shares included IndusInd Bank, Mahindra & Mahindra, HCL Tech, Power Grid, Maruti, State Bank of India, Titan, Asian Paints, Nestle, and UltraTech Cement.
Reliance Industries closed over half a percent higher following the announcement of a proposed merger between the media and entertainment assets of Viacom18 with Star India.
However, some of the laggards among Sensex shares included Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra, and Axis Bank. In Asian markets, Seoul, Tokyo, and Hong Kong settled lower, while Shanghai ended in the green. European markets were predominantly trading in the green, while U.S. markets closed marginally lower on Wednesday.
Vinod Nair, Head of Research at Geojit Financial Services, noted, “Investors adopted a cautious wait & watch approach on the verge of a heavy economic data week, contributing to a flat-line trend throughout the session.” The market movements reflect the cautious sentiment as investors navigate through the volatile conditions influenced by derivative expiry.
