NIFTY50 holds 25,400 mark, SENSEX above 83,000 as Bharti Airtel, ICICI Bank lead

Indian benchmark indices started the session positively but failed to sustain early gains, trimming their initial rise. However, indices rebounded from lower levels to trade in the green. By midday, the NIFTY50 was holding above the 25,400 mark, up 28 points, trading within the previous session’s range. Similarly, SENSEX was above the key psychological level of 83,000, which is up 73 points or 0.09%. Nifty Bank also remained positive, trading above the 52,200 mark at a fresh seven-week high.

In the NIFTY50 index, 29 stocks advanced, while 21 stocks declined. The top three gainers were Hero Motocorp (+2.86%), Bajaj Auto (+1.40%), and Bharti Airtel (+1.15%). On the flipside, Tata Motors (-1.98%), Adani Ports (-1.11%), and BPCL (-1.04%) were the top three laggards in the index.

On the sectoral front, most indices traded in negative territory, led by Nifty Media, which declined by 0.92%. Nifty Metal and Nifty Realty also slipped, falling by 0.45% and 0.39%, respectively. On the other hand, Nifty IT advanced by 0.38%, hitting a fresh record high.

Broader markets underperformed the frontline indices, with the Nifty Midcap 100 dipping 0.11% and the Nifty Smallcap 100 index losing 0.40%. The broader market’s underperformance resulted in weak market breadth, as 1,457 stocks declined while 905 stocks advanced.