Friday, 19 April 2024
Stock Market

Sensex and Nifty close flat in volatile market

  • The Sensex dropped 27.09 points, or 0.04 percent, to 73,876.82 on April 3.
  • The Nifty fell 18.60 points, or 0.08 percent, to 22,434.70.
  • The Nifty closed flat at 22435 levels after trading in a small, negatively skewed range.

On April 3, the Nifty slid 18.60 points, or 0.08 percent, to 22,434.70, while the Sensex declined 27.09 points, or 0.04 percent, to 73,876.82. On that same day, Indian equity indices concluded on a flat note.

The IT, metal, oil and gas, and power companies helped the market recover from its early losses and inch closer to record highs. The market began the day down. On the Nifty, Dr. Reddy’s Laboratories, Bajaj Auto, Kotak Mahindra Bank, Tech Mahindra, and Shriram Finance were among the top gainers, while Nestle India, NTPC, TCS, Axis Bank, and Britannia Industries were among the losers.

Sensex and Nifty

Sector-wise, the Media, PSU Bank, Power, and Realty indices all increased by 1%, while the Auto and Realty indices fell by 0.4% and 2.5 percent, respectively. The Nifty closed flat at 22435 levels after trading in a small, negatively skewed range.

The Nifty Midcap 100 was up 0.4% and the Nifty Smallcap 100 was up 1%, indicating stronger performance from the overall market. PSU Bank emerged as the greatest winner in the sector, which saw a mixed bag of results.

The release of significant macro data in the US and Europe, along with the RBI policy meeting, has caused markets to move cautiously. Watching US Fed Chair Powell’s speech closely will be important, and until events take place over the next several days, the market is predicted to stabilize.

The Nifty began the day with a deficit and saw a rebound during the day, ending the day slightly lower by about 19 points at the intraday lows. A near-term consolidation may result from the contrasting signals provided by the momentum setup on the hourly and daily time frames. With the 47300–47250 range serving as a critical support zone, the Bank Nifty ended the day higher.

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