Sectorally, the mood was subdued across the board, with Pharma, Metal, Manufacturing, Consumer Durables, Oil & Gas, Media, PSU Bank, Realty, PSE, and Auto sectors all slipping over 1%. The IT sector remained the only bright spot, buoyed by a stronger U.S. dollar and optimism ahead of the Fed’s decision.
“The markets remained lacklustre and ended nearly half a per cent lower, continuing the ongoing consolidation phase,” said Ajit Mishra, SVP–Research, Religare Broking Ltd.
“Barring the IT sector, all key indices edged lower, with pharma, metal, and realty among the top losers. Following the recent rebound, the broader indices also witnessed profit-taking and declined by over half a per cent each. In the absence of any major domestic events, global cues—such as updates on ongoing geopolitical tensions and the outcome of the FOMC meeting—will guide the market trend and are likely to keep volatility elevated. Amid this backdrop, participants should maintain a stock-specific trading approach while managing position sizes prudently,” Mishra added.
