Stock Markets Show Resilience Amid Economic Uncertainties

Stock markets closed with slight gains on Thursday, as the Sensex rose by 156.70 points and the Nifty by 60.90 points, recovering from early losses. The session saw mixed investor sentiment with gains in midcap and smallcap stocks contributing to the positive closing.

The stock markets ended Thursday with slight gains, overcoming a day marked by fluctuations. Noteworthy was the Sensex, which rose 156.70 points to close at 76,561.69, while the Nifty advanced by 60.90 points, settling at 23,216.25. Initially, the indices struggled, reflecting negative openings.

Early trading saw the Sensex plunging 175.15 points to hit 76,229.84 and the Nifty falling by 51.20 points to 23,104.15, driven by weak global cues and ongoing economic concerns. Market sentiment initially dipped as 40 Nifty stocks declined amidst a bearish environment.

However, a shift in sentiment was observed by the session's close, with 30 Nifty companies ending positively. UltraTech Cement, Grasim, and Wipro led the gains, while BPCL and Kotak Bank were among the top losers. Recovery in midcap and smallcap stocks was a highlight, particularly in the IT and cement sectors. According to Shriram Subramanian of InGovern Research Services, today's varied market dynamics were characterized by mid-sized IT stock surges, spurred by optimistic outlooks on the US economy.

(With inputs from agencies.)