Midday Market Review: Sensex Steady at 81,012.14; Nifty at 24,470.35 Amid Sector Volatility

As of 1:24 PM IST on December 4, the BSE Sensex was holding steady at 81,012.14, reflecting a modest rise of 166.39 points or 0.21 percent. The Nifty was valued at 24,470.35, marking an increase of 13.20 points or just 0.054 percent.

Despite witnessing early gains, the markets faced periods of volatility, mainly due to weakness in key sectors such as auto, metal, and fast-moving consumer goods (FMCG).

Sector Performance

The Nifty Auto index experienced a decline of 1 percent, impacted by notable drops in major stocks including Tata Motors, Maruti Suzuki, Bajaj Auto, and M&M. Similarly, the Metal index fell by 0.8 percent, hurt by losses in steel companies like Tata Steel, JSW Steel, and Hindalco. Other sectors such as FMCG, Pharma, and Healthcare also recorded slight declines.

Mid and Small-Cap Resilience

In contrast to the volatility experienced by larger indices, mid and small-cap stocks displayed resilience, with gains of 0.6 percent and 0.5 percent, respectively. This trend indicates that retail and high-net-worth investors are staying focused on quality stock selections.

Stocks to Watch

• Wonderla Holidays saw a significant increase of 15 percent after the announcement of a Qualified Institutional Placement (QIP) launch.

• Suzlon Energy climbed by 5 percent, buoyed by its success in securing a large wind power project.

• Honasa Consumer surged 9 percent as its CEO decided to increase his stake in the company.

Market Outlook

The crucial level for the Nifty is identified at 24,406. Trading above this level could potentially spark a rally, whereas dropping below it may initiate profit-booking activities.

Sensex, Nifty, Market