MUMBAI: Indian benchmark indices, Sensex and Nifty, closed relatively flat on Thursday amid heightened volatility during Nifty’s weekly expiry.
Investors weighed easing domestic inflation against higher-than-expected US inflation and rising trade tensions. The 30-share BSE Sensex fell 32.11 points (0.04 per cent) to 76,138.97, while the NSE Nifty 50 slipped 13.85 points (0.06 per cent) to 23,031.40.
In sectoral moves, financial stocks advanced 0.4 per cent, led by Kotak Mahindra Bank which gained 1.5 per cent after the RBI lifted its credit card and digital enrollment ban. SBI Cards surged 5.3 per cent after Macquarie upgraded it to “outperform,” citing cost benefits and improved liquidity through FY25-27.
However, seven of the 13 major sectors ended lower, with smallcap stocks declining 0.37 per cent and mid-caps edging up 0.25 per cent.
Despite early gains from easing inflation, overall market sentiment weakened amid global uncertainty and weak earnings.
Chinese tech stocks up
A surge in Chinese tech stocks driven by AI interest diverted FIIs, while investors now await the Trump-Modi talks for potential trade concessions and a pullback rally.
Global stocks mostly rose on Thursday after US President Trump and Russian President Putin agreed to talks aimed at ending the Ukraine war.
US stock futures were flat, with Dow and S&P 500 futures slipping below 0.1 per cent. Asian markets found optimism in potential tariff relief from Trump.
Japan’s Nikkei climbed 1.3 per cent on a weaker yen, while MSCI’s Asia-Pacific index hit a two-month high, rising 1.2 per cent. South Korea’s Kospi jumped 1.4 per cent, though Chinese blue chips and Hong Kong’s Hang Seng fell 0.2 per cent after early gains.
Bond markets reacted to US inflation data showing the highest monthly rise in 18 months. Core inflation, excluding food and energy, rose 0.4 per cent, exceeding expectations of 0.3 per cent.
