Mumbai, December 4: Indian stock markets closed in the green on Thursday after four consecutive sessions of decline. At the end of trading, the Sensex gained 158.51 points or 0.19 percent to close at 85,265.32, while the Nifty strengthened by 47.75 points or 0.18 percent to settle at 26,033.75.
IT stocks led the market rally. The Nifty IT index closed with gains of 1.41 percent. Additionally, auto, PSU bank, pharma, FMCG, metal and realty sectors ended in positive territory.
On the other hand, energy, media, infrastructure, consumer durables and oil & gas sectors closed in red.
Midcap and smallcap segments saw flat trading compared to largecaps. Due to this, the number of declining stocks was higher than advancing ones in the market.
The Nifty Midcap 100 index closed at 60,299.80 with a minor decline of 15.85 points, while the Nifty Smallcap 100 index ended at 17,607.85, down 41.60 points.
Among Sensex constituents, TCS, Tech Mahindra, Infosys, HCL Tech, Bharti Airtel, Sun Pharma, BEL, Trent, ITC, Bajaj Finance, M&M, Axis Bank, HUL, Power Grid and Asian Paints were gainers. Maruti Suzuki, Eternal (Zomato), Kotak Mahindra Bank, Titan, SBI, ICICI Bank, HDFC Bank, Tata Steel, NTPC and L&T were losers.
Sudip Shah from SBI Securities said that during the session, Nifty traded in a limited range of 160 points. However, the index managed to close above the 26,000 level.
He further stated that the support zone for Nifty is between 25,900 to 25,870. In case of bullish momentum, the resistance level for the index is between 26,140 to 26,160. If it crosses this level, further strength could be witnessed.
The Indian stock market had opened flat. Sensex was at 85,101 with a marginal decline of 5 points, while Nifty was at 25,984 with a weakness of 2 points.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
