Mumbai (Maharashtra) [India], March 7 (ANI): The Indian stock markets on Friday ended near the flatline amid mixed global cues.
At the end of the trading, the Nifty at the National Stock Exchange (NSE) was up 7.80 points or 0.03 per cent at 22,552.50, while the BSE Sensex was down 7.51 points or 0.01 percent at 74,332.58.
At the NSE, Reliance Industries, Nestle, Bajaj Auto, Bharat Electronics, and Hindalco were the major gainers, while losers such as IndusInd Bank, NTPC, Shriram Finance, Infosys, and HCL Technologies were the major losers.
At BSE, the Midcap index witnessed a decline of 0.3 percent, while the Smallcap index was up 0.7 per cent.
On the sectoral front on the NSE, indices such as consumer durables, IT, power, and realty were down 0.5-1 percent, while capital goods, energy, metal, and media were up 0.5-2 percent.
“The global market is experiencing a heightened uncertainty due to US tariff impositions and counter threats from its peers. This ambiguity has led to increased risk aversion and diminished appeal of equities,” said Vinod Nair, Head of Research, Geojit Financial Services.
He further added, “EMs have been particularly affected, experiencing significant outflows. Lately, the S&P 500 index is showing signs of a deeper correction, reflecting concerns about the potential impact of tariffs on the US economy.”
As per Nair, Indian markets have demonstrated resilience of late despite the looming trade war. While a recovery in corporate earnings could significantly improve the domestic sentiments, he added.
Observing the markets, Sundar Shivratan Kewat, technical and derivatives analyst at Ashika Institutional Equity, said, “U.S. President Donald Trump’s decision to suspend the 25% tariffs on most goods from Mexico and Canada continued to lift sentiment, amid hopes of decelerating global trade tensions.”
Today’s market strength was driven by a broad-based recovery, with Nifty 50 stabilizing near fair valuations, while mid and small caps saw continued buying after recent corrections, said Krishna Appala, Sr. Research Analyst, Capitalmind Research.
Over the past week, the Nifty 50 gained 2.1 percent while the Nifty Midcap 100 and Nifty Smallcap 250 surged 2.9 percent and 5.8 percent, respectively, reflecting strong momentum in the broader market despite macroeconomic uncertainties. (ANI)
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