May 21 (BNP): Indian equity markets ended largely flat on Thursday as geopolitical tensions in West Asia weighed on investor sentiment, while selective buying in broader markets helped benchmark indices limit losses and avoid a sharper decline.
The benchmark Sensex closed at 75,183.36, down 135.03 points or 0.18 per cent, while the Nifty 50 settled nearly unchanged at 23,654.70, slipping just 4.30 points or 0.02 per cent, reflecting cautious market participation amid global uncertainty.
Market sentiment remained under pressure due to concerns over escalating geopolitical developments in West Asia, prompting selling in sectors such as information technology (IT), fast-moving consumer goods (FMCG), and financial services. Heavyweight stocks including Bajaj Finance, Infosys, Tech Mahindra and Hindustan Unilever emerged among the key laggards during the trading session.
Despite weak benchmark momentum, broader markets showed resilience. Mid-cap stocks traded subdued, while small-cap counters outperformed and ended higher, indicating selective investor confidence in specific segments. Sectorally, the cement pack emerged as the top performer with gains of over 2 per cent, followed by strength in realty and metal stocks. On the other hand, FMCG and IT sectors witnessed notable selling pressure.
The Indian rupee recovered strongly against the U.S. dollar to close at 96.15, registering gains of 0.68 per cent, while the India VIX, a measure of market volatility, eased by around 3.5 per cent, signalling a marginal decline in investor anxiety levels.
Market experts indicated that near-term direction is likely to remain dependent on geopolitical developments, global central bank signals and macroeconomic indicators. Technically, analysts see resistance for Nifty in the 23,700–23,800 range, with the 24,000 mark acting as a key psychological barrier, while immediate support is placed between 23,500 and 23,600.
Overall, markets remained range-bound as investors balanced geopolitical risks with selective domestic strength, keeping benchmark indices largely stable despite external headwinds.
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