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Sensex, Nifty End Flat; Auto Stocks Shine Amid Mixed Sectoral Trends

Indian benchmark indices ended flat on Thursday with the Sensex declining 114 points and the Nifty slipping 4.30 points. Broader markets outperformed as the Nifty MidCap and SmallCap indices gained over 1% each. The Auto sector emerged as the top gainer while IT and FMCG sectors lagged. Crude oil prices fell sharply on reports of a potential US-Iran deal to reopen the Strait of Hormuz.

Key Points: Sensex, Nifty End Marginally Down; Auto Stocks Rise

  • Sensex declines 114 points, Nifty slips 4.30 points
  • Broader markets outperform, MidCap and SmallCap indices rise
  • Auto sector top gainer, IT and FMCG underperform
  • Crude oil drops 2.74% on US-Iran deal hopes for Strait of Hormuz
2 min read

Sensex, Nifty end marginally down amid mixed sectoral trends

Indian markets end flat with Sensex down 114 pts. Auto stocks gain, IT and FMCG lag. Crude oil falls on US-Iran deal hopes.

"In the near term, markets will remain highly sensitive to headline risk with volatility contingent on developments out of the Gulf - an analyst"

Mumbai, May 7

Indian benchmark indices ended largely flat on Thursday after trading in a narrow range throughout the session, even as broader markets outperformed and auto stocks witnessed buying interest.

The Nifty slipped 4.30 points, or 0.02 per cent, to close at 24,326.65, while the Sensex declined 114 points, or 0.15 per cent, to settle at 77,844.52.

Commenting on technical outlook, experts said that technically, the 24,400-24,500 zone continues to act as an immediate resistance band, and a sustained breakout above this range could revive momentum toward the 24,600+ levels.

"On the downside, the 24,100-24,000 zone remains a key support area, which is expected to provide stability in case of renewed selling pressure," an analyst stated.

Among the top drags on the Nifty were Hindustan Unilever, Tata Consultancy Services, and Titan Company, which weighed on the frontline indices.

Despite the muted performance in benchmark indices, broader markets remained upbeat. The Nifty MidCap index advanced 1.20 per cent, while the Nifty SmallCap index gained 0.97 per cent.

On the sectoral front, the Nifty Consumer Durable, Nifty IT, and Nifty FMCG indices underperformed, whereas the Nifty Auto index emerged as the top sectoral gainer during the session.

"In the near term, markets will remain highly sensitive to headline risk with volatility contingent on developments out of the Gulf, most critically Iran's response to the U.S. peace proposal and the potential reopening of the Strait of Hormuz," an analyst stated.

Meanwhile, global crude oil prices witnessed a sharp decline. Brent crude futures dropped 2.74 per cent to $98.50 per barrel after reports suggested that the US and Iran had reached an agreement aimed at ending the blockade, paving the way for the gradual reopening of the Strait of Hormuz.

"Rupee traded stronger near 94.24 against the dollar, gaining around 15 paise, as improving sentiment around ongoing US-Iran talks supported risk appetite.

- IANS

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Reader Comments

S
Sarah B
Interesting how geopolitics are affecting Indian markets too. The Strait of Hormuz reopening could be a big deal for oil prices, which always impacts our economy.
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Arun Y
Another day of sideways movement. Hope the government focuses more on job creation rather than just market numbers. Small caps moving up is good for retail investors. 👍
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Lakshmi X
Sensex at 77k is still a great sign. I remember when 60k was a big deal. But yes, volatility is a concern with global tensions. Stay invested, yaar. 📊
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Benjamin I
Auto sector rally is interesting—maybe due to domestic demand? Broader markets outperforming shows retail confidence is strong. But IT underperformance is a worry for Nifty.
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Priya S
Rupee strengthening is a relief! Import costs will come down. But HUL and TCS dragging the market—maybe time to rebalance portfolios. 😅

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