Mumbai, Dec 28 || The Indian benchmark indices closed almost flat this week owing to a lack of significant catalysts, as strong performances in heavyweight sectors such as banking and pharma helped offset declines in the IT sector.
Mid and small-cap stocks also ended on a flat note this week.
In the Friday’s trading session, share market ended with gains as buying was seen in pharma, auto, IT, financial service, FMCG, media, and private bank sectors on Nifty.
Sensex ended at 78,699.07, up by 226.59 points or 0.29 per cent and Nifty settled at 23,813.40, up by 63.20 points or 0.27 per cent.
The volatility index, India VIX, cooled by 5.68 per cent to 13.24, indicating drop in market volatility.
Experts said that a sustainable move above this level could drive the index towards 24,000–24,100.
“On the downside, 23,500 remains a key support. In the immediate term, Nifty is expected to consolidate between 23,500 and 23,900, with a breakout on either side defining its next move,” said Hrishikesh Yedve of Asit C Mehta Investment Interrmediates Ltd.
Persistent concerns over FII outflows and the depreciating rupee, along with potential adverse tariffs and reduced expectations for rate cuts in 2025, contributed to the muted market trend.