India's benchmark indices had another session of muted close on Wednesday after swinging between gains and declines in a rangebound trading. Information technology and pharmaceutical stocks fell while realty and metal climbed.
The NSE Nifty 50 ended 12.4 points or 0.05% lower at 22,932.9, and the BSE Sensex closed 28.21 points or 0.04% lower at 75,939.18.
Intraday, the Nifty fell 0.57% but stayed above the crucial support at 22,800, while the Sensex lost 0.51% to stay just above 75,500.
The 50-share index has remained within its established range of 22,800 to 23,100, signaling that the market is waiting for a breakout on either sides to determine its next directional move, said Aditya Gaggar, director of Progressive Shares.
Shares of Infosys Ltd., Tata Consultancy Services Ltd. and Bharti Airtel Ltd. weighed on the Nifty 50, while those of ICICI Bank Ltd., Larsen & Toubro Ltd. and Axis Bank Ltd. added to the index.
On NSE, eight out of 12 sectors advanced, and the other four declined. The Nifty IT and Nifty Pharma fell the most, and the Nifty Realty and Nifty Media rose the most.
Broader markets ended the session on a better note. The BSE Midcap ended 1.3% higher and the BSE Smallcap closed 2.41% up.
On BSE, four out of 21 sectors declined. The BSE Industrials advanced the most, and the BSE Focused IT fell the most.
Market breadth was skewed in the favour of sellers. In total, 2,808 stocks declined, 1,147 stocks advanced, and 119 stocks remained unchanged on the BSE.
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