Midday Market Update: Sensex Steady at 81,012.14; Nifty Trades at 24,470.35 Despite Sectoral Volatility

As of 1:24 PM IST on December 4, the benchmark index Sensex was at 81,012.14, showing an increase of 166.39 points or 0.21 percent. Meanwhile, Nifty was recorded at 24,470.35, up by 13.20 points or 0.054 percent.

Despite some initial gains, the market experienced volatility due to declines in several sectors including auto, metal, and FMCG.

Sector Performance

The Nifty Auto index faced a drop of 1 percent, with major companies such as Tata Motors, Maruti Suzuki, Bajaj Auto, and M&M leading this decline. The Metal index also fell by 0.8 percent, affected by losses from Tata Steel, JSW Steel, and Hindalco. Additionally, sectors like FMCG, Pharma, and Healthcare witnessed moderate declines.

Mid and Small-Cap Resilience

In light of the volatility in larger indices, mid and small-cap stocks displayed relative resilience, with gains of 0.6 and 0.5 percent, respectively. Retail and high-net-worth individual (HNI) investors are focusing on quality stock picks in these categories.

Stocks to Watch

• Wonderla Holidays gained 15 percent following a Qualified Institutional Placement (QIP) announcement.

• Suzlon Energy saw a rise of 5 percent after successfully securing a major wind power project.

• Honasa Consumer surged by 9 percent after its CEO increased his stake in the company.

Market Outlook

The key support level for the Nifty is set at 24,406. Should the index trade above this level, it may trigger a rally, whereas a drop below could lead to profit-booking.

market, stocks, sensex