Market Update: Nifty Holds Above 25,500 Amid Volatility; DCM Shriram Soars, Nykaa Drops
Markets remained volatile on Wednesday as investors navigated mixed cues from global and domestic fronts. The Nifty 50 index stayed in the green, trading just above the 25,500 mark, while the Sensex mirrored the sentiment, holding steady around the 83,500 level. Despite the overall positive trend in benchmark indices, market breadth remained mixed with sector-specific action driving movement.
The banking sector was under pressure, with the banking index slipping by over 30 points. This decline reflects subdued sentiment around financial stocks, even as broader indices managed to hold gains.
In contrast, DCM Shriram emerged as a standout performer, surging over 11% during intraday trade. The stock saw strong buying interest following positive developments in its chemicals and agribusiness segments. Another major gainer was Motilal Oswal, which hit a five-month high, supported by high volumes and renewed investor interest.
Among sectoral indices, Nifty Auto and Metal indices outperformed, registering solid gains. Auto stocks gained momentum on expectations of strong sales numbers, while metal counters rose on hopes of improved global demand and favorable commodity prices. Defence stocks, on the other hand, remained volatile, fluctuating between gains and losses throughout the session.
Nykaa was under selling pressure, falling more than 4% following a major block deal in early trade. The stock, which had seen recent buying interest, faced a sharp reversal amid heavy volumes. D-Mart was also in focus, though it remained range-bound.
In terms of volume buzzers, Aster DM Healthcare, Nykaa, Natco Pharma, Latent View, and Motilal Oswal led the activity charts, indicating stock-specific momentum driving intraday moves.
Meanwhile, the broader market remained subdued. Both mid-cap and small-cap indices traded flat, suggesting a cautious stance among investors in the absence of strong market-wide triggers.
As the day progresses, market participants are expected to keep an eye on global cues, crude oil prices, and upcoming earnings announcements for direction. Volatility may persist in the near term as traders continue to rotate between sectors.
