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Markets Flat Ahead of US Jobs Data; Auto, PSU Banks Shine
11 Feb
Summary
- Domestic indices closed nearly flat on Wednesday.
- Auto, PSU banks, and pharma stocks saw buying interest.
- Major IT and private bank shares faced selling pressure.
Indian stock markets concluded Wednesday's session with minimal movement, as gains in specific sectors were counterbalanced by investor caution regarding upcoming global economic indicators, particularly the US jobs report. The Nifty index managed to stay above the 25,950 mark, while the S&P BSE Sensex saw a slight dip.
Sectoral performance was mixed, with auto, PSU banks, and pharmaceuticals experiencing positive traction. Conversely, information technology and private banking stocks faced downward pressure. This divergence reflected a cautious market sentiment as traders awaited fresh cues from international markets.
In broader market movements, the BSE 150 MidCap Index experienced a marginal decline, while the BSE 250 SmallCap Index registered a modest increase. Market breadth favored declines, with more shares falling than rising on the BSE. The India VIX, a measure of expected market volatility, decreased by 1%.
