CHENNAI: The benchmark indices exhibited a mixed to bullish trend, influenced by profit booking bank stocks, investors watching progress on US-China trade talks and mixed global cues.
After hitting intraday low of 82,240.4, the Sensex settled at 82,391.72, down by 53.5 points or 0.06 per cent. The Nifty50 closed at 25,104.25 levels, up by mere 1.05 points.
Market Drivers:
Global Markets: Positive cues from US and Asian markets boosted investor confidence.
Domestic Economic Data: Strong manufacturing and service sector PMI data supported the bullish sentiment.
Corporate Earnings: Several blue-chip companies reported better-than-expected quarterly results, contributing to market optimism.
Sector Highlights:
IT and Pharma sectors led gains, driven by favorable global demand.
Financials also saw upward movement due to improved credit growth figures.
Market Sentiment: Investor sentiment remained cautiously optimistic, supported by stable inflation rates and ongoing government reforms.
According to analysts, while the markets recoverd from previous volatility, the trend indicates investor confidence amid stable macroeconomic indicators and positive global cues.