Mumbai: The Indian stock market closed with modest gains on Thursday after a roller-coaster session that saw early enthusiasm over GST reforms fizzle out amid profit booking and weakness in IT counters.
The Sensex, which opened with a strong burst and briefly crossed 81,450, lost steam through the session to close at 80,718.01, only 150 points higher. The Nifty50 managed to hold above 24,700, finishing at 24,734.30 with a marginal 19-point gain.
Market breadth remained weak, with small- and mid-cap stocks lagging. The Nifty Smallcap 100 declined 0.71 per cent, while the Midcap 100 slipped 0.57 per cent, underscoring investor caution outside frontline stocks.
Autos, banks, and FMCG names provided the day’s resilience. Mahindra & Mahindra led the charge on the Sensex alongside Trent, ITC, HDFC Bank, ICICI Bank, and Asian Paints. On the flip side, technology counters bore the brunt of selling, dragging down heavyweights like Infosys, HCL Tech, and Tech Mahindra. Other laggards included Maruti Suzuki, Tata Motors, Tata Steel, Kotak Bank, NTPC, and UltraTech Cement.
