Final Trade: Nifty finishes volatile session flat at 24,610; Bharti Airtel, Dr Reddy's top blue-chip losers, down 1%

The Indian stock market is showing a mixed trend as the Sensex remained flat while the Nifty tested the 24,650 level. Auto and media stocks are underperforming, dragging the broader market down, while sectors like IT and metals saw positive movement.

Sectoral movement

Auto stocks are witnessing declines, with the sector down by 0.5-1 per cent. The oil & gas, power, telecom, and media sectors also traded lower. However, the IT and realty sectors saw a rise of 0.5-1 per cent, with the IT index hitting fresh highs.

Stock highlights

• Waaree Energies: The stock surged over 5% after the company secured a major order to supply 1 GW of solar PV modules.

• Vodafone Idea: Shares rose 2% following the announcement of a Rs 1,980 crore infusion by promoters through a preferential issue.

• Swiggy: The stock jumped 5% after CLSA recommended a "buy" with a target price of Rs 708.

• Syngene: A large equity trade saw 2% of Syngene's equity exchanged, impacting its stock price.

Rupee movement

The Indian Rupee appreciated by 8 paise, trading at 84.78 against the US dollar, moving up from its all-time low.

Top gainers and losers

Among the top gainers on the Sensex, Bajaj Finserv, Infosys, HCL Technologies, Tata Steel, and Titan Company saw positive movement, while Bharti Airtel, Adani Ports, Tech Mahindra, Reliance Industries, and Axis Bank were among the top losers.

The market remains cautious with mixed signals, but sectoral shifts continue to shape trading sentiment.

Vinod Nair, Head of Research at Geojit Financial Services, highlighted that the domestic market ended flat, with a rebound from the day's lows signaling a "buy on dip" strategy. He noted that China's additional stimulus measures failed to uplift Asian market sentiment, while the broader market continued to outperform, driven by gains in mid and small-cap stocks. The IT index touched new highs, fueled by expectations of improved US IT spending. Nair emphasized the importance of upcoming US and India inflation data, stating, "India's CPI will serve as a key indicator of underlying earnings growth, which has been downgraded in H1FY25," and could provide insights into potential rate cuts.