Indian Markets End Flat as HDFC Bank Offsets Gains
The Nifty 50 and Sensex closed nearly unchanged on Thursday amid a choppy session. Gains in public sector banks and pharma were offset by a drop in HDFC Bank.
Indian equity benchmarks concluded a volatile trading session on Thursday with little change, failing to capitalize on a broader global rally. While markets in Japan and Europe saw significant gains, India remained subdued due to limited risk appetite. The Nifty 50 index rose slightly by 0.06% to close at 25,496.55, while the BSE Sensex slipped 0.03% to 82,248.61. Throughout the day, both benchmarks fluctuated between gains and losses of 0.4%. This followed a similar trend on Wednesday, where initial gains were largely erased by the closing bell. Despite the stagnant headline numbers, 14 of the 16 primary sectoral indices advanced. Public sector lenders were among the top performers, with the sector rising 1%. This move was spearheaded by a 0.8% gain in the State Bank of India after analysts highlighted its robust liquidity coverage and growth prospects. The pharmaceutical index also climbed 1.1%, marking a nearly 4% increase over the last five sessions, which market participants attributed to sector rotation.
