Sensex Closes Steady as PM Modi and Trump Meet Loom
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Synopsis
On February 13, the Indian stock market faced a volatile day, with benchmark indices giving up early gains. Investors remained cautious ahead of the crucial meeting between Prime Minister Modi and President Trump, aimed at enhancing ties between the two democracies.
Key Takeaways
- Sensex closed at 76,138.97, down 0.04%.
- Nifty finished at 23,031.40, down 0.06%.
- Top losers included Hero MotoCorp and Infosys.
- Major gainers were Sun Pharma and Bajaj FinServ.
- Market sentiment was mixed with Midcap up and Smallcap down.
Mumbai, Feb 13 (NationPress) The Indian stock market experienced a volatile session on Thursday as benchmark indices relinquished early gains and concluded flat, with investors keenly awaiting the results of the meeting between Prime Minister Narendra Modi and US President Donald Trump, which seeks to enhance the relationship between the two largest democracies.
The Sensex settled at 76,138.97, down by 32.11 points or 0.04 percent from its previous close. The index fluctuated between 76,764.53 and 76,013.43 throughout the day.
In a similar fashion, the Nifty finished on a subdued note at 23,031.40, a decline of 13.85 points or 0.06 percent.
The index reached an intra-day peak of 23,235.50 but also dipped to a low of 22,992.20 before closing.
During the early session, both indices exhibited upward movement as purchases were noted in the PSU bank and financial services sectors.
The Sensex was initially up by 244.25 points or 0.32 percent, while the Nifty gained 79.25 points or 0.34 percent in the opening hours.
Out of the Nifty stocks, 27 finished in negative territory, pulling the market down.
Hero MotoCorp, Infosys, and Larsen & Toubro (L&T) were the main losers, declining by up to 4.93 percent.
Conversely, Sun Pharma, Bajaj FinServ, Tata Steel, Bajaj Finance, and Cipla emerged as top gainers, rising by as much as 3.12 percent.
The broader market displayed varied sentiments as the Nifty Midcap 100 index closed with a slight gain of 0.25 percent, while the Nifty Smallcap 100 index fell by 0.37 percent.
Sector-wise, financial services, pharma, metal, healthcare, private banking, and realty stocks performed well, exhibiting gains of up to 1.47 percent.
Looking ahead, the rupee's trajectory will hinge on further dollar index trends and global risk sentiment, with key support identified near 86.60 and resistance around 87.10.
PM Modi arrived in the US following a visit to France, where he co-chaired the Artificial Intelligence Action Summit alongside French President Emmanuel Macron.
The Prime Minister and US President were scheduled to engage in bilateral discussions at the White House on Thursday (US time).
