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

As of 1:24 PM IST on December 4, the Sensex reached 81,012.14, marking an increase of 166.39 points or 0.21 percent. Meanwhile, the Nifty traded at 24,470.35, gaining 13.20 points or 0.054 percent.

Although the markets opened with some gains, they experienced volatility due to declines in several sectors, particularly the auto, metal, and FMCG sectors.

Sector Performance

The Nifty Auto index saw a decline of 1 percent, with major companies like Tata Motors, Maruti Suzuki, Bajaj Auto, and Mahindra & Mahindra (M&M) contributing to the downturn. The Metal index followed suit, falling by 0.8 percent, primarily due to losses recorded by Tata Steel, JSW Steel, and Hindalco. Other sectors like FMCG, Pharma, and Healthcare also experienced modest declines.

Mid and Small-Cap Resilience

In spite of the fluctuations in larger indices, mid and small-cap stocks demonstrated relative strength, posting gains of 0.6 and 0.5 percent, respectively. This resilience suggests that retail and HNI investors are actively seeking quality stock picks during this turbulent period.

Stocks to Watch

• Wonderla Holidays surged by 15 percent following an announcement regarding a Qualified Institutional Placement (QIP).

• Suzlon Energy experienced a 5 percent rise after securing a significant wind power project.

• Honasa Consumer rose by 9 percent, influenced by the CEO's decision to increase his stake in the company.

Market Outlook

Market analysts indicate that the Nifty's trend-deciding level is positioned at 24,406. If it trades above this level, a rally could follow, while a drop below might trigger profit-booking among investors.

Sensex, Nifty, Volatility