Stock Market Ends Flat After 4-Day Losing Streak
Indian benchmark indices broke a four-day losing streak to end on a flat note in a highly volatile session on September 25. The Sensex was up 14.54 points or 0.02 percent at 66,023.69, and the Nifty was up 0.30 points at 19,674.55.
The market started on a negative note due to mixed global cues and remained in the red until the afternoon session, when it showed signs of recovery. The Nifty50 went near to 19,750, but last-hour selling erased all the gains to close on a flat note.
Bajaj Finance, Tata Consumer Products, Apollo Hospitals, Bajaj Finserv, and Coal India were among the top gainers on the Nifty, while losers included Hindalco Industries, SBI Life Insurance, Hero MotoCorp, Infosys, and Dr Reddy”s Laboratories.
On the sectoral front, the realty index rose 1.5 percent, and the bank index was up 0.3 percent, while the Information Technology index fell 0.7 percent, and the capital goods index was down 0.3 percent.
The BSE midcap index rose 0.40 percent, while the Smallcap index ended on a flat note.
According to Rupak De, Senior Technical Analyst at LKP Securities, the index remained volatile before closing with a doji pattern on the daily timeframe. This suggests a possible pause in the prevailing bearish trend. From here, the market might consolidate a bit before starting a new trend. Support on the lower end is pegged at 19,600; a fall below 19,600 might initiate fresh shorts. On the higher end, resistance is placed at 19,755.
