Mumbai, Feb 27: Indian stock markets closed on a flat note in a volatile session on Thursday, as persistent foreign fund outflows and the monthly derivatives expiry weighed on investor sentiment.
The BSE Sensex managed to post a marginal gain of 10.31 points (0.01%), closing at 74,612.43. The index swung 313.31 points during the session, hitting an intraday high of 74,834.09 and a low of 74,520.78. Meanwhile, the NSE Nifty edged lower by 2.50 points (0.01%), settling at 22,545.05, marking its seventh consecutive decline.
Top Gainers and Losers
Among Sensex constituents, Bajaj Finserv, Bajaj Finance, Sun Pharma, Zomato, Tata Steel, and Nestle led the gainers' list. On the other hand, UltraTech Cement, Tata Motors, Mahindra & Mahindra, Kotak Mahindra Bank, Tech Mahindra, and State Bank of India were the major laggards.Foreign Investors Continue to Sell
Foreign institutional investors (FIIs) remained net sellers, offloading equities worth ₹3,529.10 crore on Tuesday, per exchange data. The markets remained closed on Wednesday due to Mahashivratri.Market Commentary
"Markets traded dull on the monthly expiry day, closing nearly unchanged for the second consecutive session. After an initial uptick, the Nifty quickly flattened, trading within a narrow range before settling at 22,545.05. The past two sessions reflect indecision, likely due to oversold conditions," said Ajit Mishra, SVP, Research, Religare Broking Ltd.Global Market Trends
Tokyo and Shanghai ended higher in the broader global market, while Seoul and Hong Kong closed lower. European indices were mainly red, whereas US markets ended on a mixed note on Wednesday.Crude Oil Prices
The global oil benchmark of Brent crude rose 0.69% to $73.03 per barrel, adding further cues to market movements.Previous Session Recap
On Tuesday, the Sensex had gained 147.71 points (0.20%) to settle at 74,602.12, while the Nifty had slipped 5.80 points (0.03%) to close at 22,547.55.Investors will now closely watch economic data and global cues to gauge further market direction.
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