Benchmark indices concluded a volatile year-end session nearly unchanged on Monday, with the Nifty 50 recording its fourth consecutive decline even as metal and auto stocks provided crucial support amid monthly derivatives expiry.
The 30-share BSE Sensex closed at 84,675.08, down 20.46 points or 0.02 per cent from its previous close of 84,695.54, while the Nifty 50 shed 3.25 points or 0.01 per cent to settle at 25,938.85 against the previous close of 25,942.10. The Nifty opened at 25,940.90 before swinging between an intraday low of 25,878 and a high of 25,976.
Metals emerged as the session’s star performers, with the Nifty Metal index surging 2 per cent to a fresh all-time high of 11,029. Hindalco led the Nifty 50 gainers, jumping 2.12 per cent to ₹883.30 from ₹865.00, while Tata Steel advanced 1.96 per cent to ₹175.68 from ₹172.30. Auto stocks also witnessed strong buying, with Bajaj Auto topping the gainers list, climbing 2.32 per cent to ₹9,298.00 from ₹9,087.00, and Mahindra & Mahindra rising 1.89 per cent to ₹3,660.00 from ₹3,592.10. Shriram Finance added 1.99 per cent to ₹974.55 from ₹955.50.
On the losing side, Eternal Technologies tumbled 2.21 per cent to ₹276.60 from ₹282.85, followed by Eicher Motors which declined 1.92 per cent to ₹7,132.50 from ₹7,272.00. Tata Consumer Products dropped 1.79 per cent to ₹1,173.80 from ₹1,195.20, Max Healthcare fell 1.64 per cent to ₹1,046.60 from ₹1,064.10, and InterGlobe Aviation slipped 1.52 per cent to ₹5,008.00 from ₹5,085.50.
Sectoral performance remained mixed. The Nifty Bank index advanced 0.41 per cent to 59,171.25, while Nifty Financial Services gained 0.07 per cent to 27,382.80. However, broader markets underperformed, with the Nifty Midcap 100 declining 0.15 per cent to 59,914.25 and the Nifty Smallcap 100 falling 0.28 per cent to 17,518.95.
Market breadth remained negative for the fourth consecutive session, with 1,918 stocks advancing against 2,260 declining on the BSE. While 108 stocks touched their 52-week highs, 195 hit 52-week lows.
“The index has slipped to the upper band of the falling wedge pattern, where the correction appears to have been arrested,” noted Rupak De, Senior Technical Analyst at LKP Securities. “Immediate support is placed in the 25,850–25,870 zone. A decisive break below this level could intensify bearish sentiment, while resistance is placed at 26,000.”
The Indian rupee strengthened significantly, breaking its five-day losing streak. “Rupee strengthened by 37 paise to 89.70 against the dollar, supported by buying in banking and financial stocks,” said Jateen Trivedi, VP Research Analyst at LKP Securities. “However, uncertainty around the India–US trade deal remains the key macro overhang.”
Gold prices witnessed gains in domestic markets. “Gold traded positive today with modest gains of around ₹1,200, settling near ₹1,36,100 in MCX,” Trivedi added. “Overall, gold is expected to remain volatile, with the near-term trading range shifting higher to ₹1,32,000–₹1,38,500.”
Looking ahead, analysts expect markets to remain range bound. “The market is anticipated to stay sideways, awaiting more pronounced outcomes from US-India trade talks and the Q3 results calendar,” said Vinod Nair, Head of Research at Geojit Investments Ltd.