Sensex, Nifty end higher amid realty rally; broader markets outperform
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Mumbai, Nov 12 : Benchmark equity indices ended a volatile trading session marginally higher on Thursday, supported by gains in realty, banking and financial stocks, while losses in auto shares capped the upside.
The Sensex rose 31.61 points, or 0.04 per cent, to close at 81,911.01, while the Nifty gained 44.30 points, or 0.18 per cent, to settle at 25,299.35.
Commenting on Nifty technical outlook, experts said that the index has been consolidating within a narrow range over the past 2–3 trading sessions, while maintaining a bullish undertone.
However, with the index trading in the overbought zone, the possibility of a mild retracement from current levels cannot be ruled out.
"In such a scenario, 25,000 is expected to act as immediate support, followed by a crucial support at 24,800. Nevertheless, the broader bias remains positive, and index traders should maintain a buy-on-dips approach," analysts stated.
"On the upside, resistance is placed at 25,500, with the index expected to trade within the 25,000–25,500 range," market experts mentioned.
Market participants navigated fluctuations through the session before buying interest in rate-sensitive sectors such as real estate and banking helped benchmarks finish in positive territory.
In the broader market, sentiment remained upbeat with mid- and small-cap stocks outperforming the frontline indices.
The Nifty MidCap 100 advanced 0.85 per cent, while the Nifty SmallCap 100 climbed 1.12 per cent.
Among sectoral indices, Nifty Realty emerged as the top gainer, surging 4 per cent. The rally was followed by gains in Nifty PSU Bank, Nifty Media and Nifty Bank indices.
On the other hand, the Nifty Auto index was the worst-performing sector during the session, weighing on overall market gains.
Within the Nifty pack, Mahindra & Mahindra, Nestle India and Power Grid Corporation were among the top laggards, ending lower amid sector-specific selling pressure.
Experts said that despite the subdued gains in the benchmark indices, the strong performance of broader markets indicated continued risk appetite among investors, with buying activity extending beyond large-cap stocks.
The Sensex rose 31.61 points, or 0.04 per cent, to close at 81,911.01, while the Nifty gained 44.30 points, or 0.18 per cent, to settle at 25,299.35.
Commenting on Nifty technical outlook, experts said that the index has been consolidating within a narrow range over the past 2–3 trading sessions, while maintaining a bullish undertone.
However, with the index trading in the overbought zone, the possibility of a mild retracement from current levels cannot be ruled out.
"In such a scenario, 25,000 is expected to act as immediate support, followed by a crucial support at 24,800. Nevertheless, the broader bias remains positive, and index traders should maintain a buy-on-dips approach," analysts stated.
"On the upside, resistance is placed at 25,500, with the index expected to trade within the 25,000–25,500 range," market experts mentioned.
Market participants navigated fluctuations through the session before buying interest in rate-sensitive sectors such as real estate and banking helped benchmarks finish in positive territory.
In the broader market, sentiment remained upbeat with mid- and small-cap stocks outperforming the frontline indices.
The Nifty MidCap 100 advanced 0.85 per cent, while the Nifty SmallCap 100 climbed 1.12 per cent.
Among sectoral indices, Nifty Realty emerged as the top gainer, surging 4 per cent. The rally was followed by gains in Nifty PSU Bank, Nifty Media and Nifty Bank indices.
On the other hand, the Nifty Auto index was the worst-performing sector during the session, weighing on overall market gains.
Within the Nifty pack, Mahindra & Mahindra, Nestle India and Power Grid Corporation were among the top laggards, ending lower amid sector-specific selling pressure.
Experts said that despite the subdued gains in the benchmark indices, the strong performance of broader markets indicated continued risk appetite among investors, with buying activity extending beyond large-cap stocks.
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Note: The content of this article is sourced from a news agency and has not been edited by the ap7am team.