NIFTY50, SENSEX close flat; Banking and IT stocks shine, realty top loser

Benchmark indices closed flat today amid volatility. NIFTY50 closed 0.08% lower at 22,434, while SENSEX declined 0.04% or 27 points to 73,876.

The domestic market commenced the day on a tepid note, with NIFTY50 opening 0.3% lower below 22,400 amid weak Asian and US markets. However, Indian equities managed to trim early morning losses supported by gains in banking and IT stocks.

Investors are cautious ahead of RBI’s monetary policy announcement on April 5, which is also weighing on the market. Foreign institutional investors (FIIs) are offloading domestic equities amid a rise in US bond yield, and international crude oil prices have further impacted market sentiments.

Out of the NIFTY50 space, 30 stocks closed in red. Nestle India (-2.6%), Bajaj Auto (-2.0%) and Dr Reddy (-1.7%) were among the top losers, while Shriram Finance (+3.6%), NTPC (+2.2%), Divi’s Lab (+1.7%) were top gainers.

Broader market indices continue to outperform benchmark indices. NIFTY Midcap100 rose 0.52%, while NIFTY Smallcap100 closed 1.16% higher. Mid and small cap indices are on the run, closing in green for the ninth straight trading session. Broader markets are witnessing renewed optimism after sharp corrections over the past few months.

On the sectoral front, NIFTY PSU Bank (+1.7%), IT (+0.7%) and Media (+0.5%) were top gainers, while NIFTY Realty (-2.5%), FMCG (-0.4%) and Auto (-0.27%) ended in red.

Shares of shipbuilding companies, including Mazagon Dock Shipbuilders (+11.9%), Garden Reach Shipbuilders (+6.9%) and Cochin Shipyard (+8.3%) saw strong investor traction.

JSW Energy closed 7.1% higher after the company’s board approved a fundraising of ₹5,000 crore through qualified institutional placement.

Moil Ltd’s shares closed 3.8% higher at 316.1 apiece on the NSE. The company recorded the best-ever production of any financial year since inception, at 17.56 lakh tonnes, growing sharply by 35% YoY.