Indian equity markets ended Thursday’s session on a muted note after a volatile day of trade, with benchmark indices giving up most of their early gains and settling almost flat. The tone through the day reflected a clear lack of conviction, as investors balanced supportive global cues against profit-taking in heavyweight stocks and the absence of strong domestic triggers.
The Sensex ended the session at 82,248, little changed around its previous close, while the Nifty settled near the 25,500 mark, giving up most of its intraday gains by the closing bell.
Markets opened on a positive footing, tracking firmer cues from Asian peers and a stable overnight performance in global equities. Early buying interest was visible in information technology and select export-oriented stocks, supported by a steady outlook for global demand and currency stability. This helped the benchmarks move higher in the first half of the session, with sentiment appearing constructive at the open.
However, the optimism proved difficult to sustain. As the session progressed, selling pressure emerged in large-cap banking and financial stocks, which weighed on the broader indices. Some investors chose to book profits at higher levels following the recent recovery, particularly in stocks that had seen sharp gains over the past few sessions. This capped the upside and gradually pulled the benchmarks back toward the flat line.
Sectoral trends were mixed by the close. Technology and pharmaceutical stocks managed to hold on to modest gains, drawing support from overseas cues and defensive buying. In contrast, banking and financials underperformed, acting as the primary drag on the market. Energy and select capital goods stocks showed pockets of strength, while consumer-oriented names and media stocks saw mild selling pressure. Mid-cap and small-cap stocks also ended mixed, indicating a cautious approach among investors beyond the frontline indices.
Market participants appeared reluctant to take aggressive directional positions amid a thin domestic news flow. With no major economic data releases or policy-related developments during the session, trading remained largely driven by global sentiment and stock-specific factors. Volatility during the day highlighted nervousness around key technical levels, with repeated attempts to push higher meeting resistance.
"Markets remained largely range-bound today, with the Nifty 50 ending on a marginally positive note as the ongoing consolidation within the 25,350–25,700 corridor continues to define near-term direction. This band now serves as a crucial support–resistance zone, reflecting a market that is stabilising but lacking decisive momentum," said Hariprasad K, a senior research analyst and founder, Livelong Wealth.
By the closing bell, the benchmarks had pared most of their intraday gains, ending marginally higher or lower, effectively flat on the day. The overall market mood remained cautious, with investors closely monitoring global developments and awaiting clearer domestic cues to determine the next direction.
Looking ahead, the near-term outlook for Indian equities appears range-bound. While global markets and resilient performance in select sectors continue to offer support, sustained upside is likely to depend on renewed leadership from banking stocks and the emergence of fresh domestic catalysts. Until then, markets may continue to consolidate, marked by stock-specific action and heightened sensitivity to global cues.