Nifty 50 Flat on Dec 29; Tata Steel Rallies, Adani Ports Slips

The Nifty 50 traded marginally lower on Monday, December 29, reflecting a cautious tone in the broader market amid mixed sectoral cues. As of 10:15 AM, the benchmark index slipped 10.45 points, or 0.04%, to trade near 26,031, after moving in a narrow range between 26,026 and 26,107. 

Top Gainers Lift Nifty Metal

Metal stocks provided support to the Nifty 50, helping limit deeper losses. Tata Steel emerged as the top gainer, rising ₹3.66, or 2.16%, to trade at ₹172.78. JSW Steel also advanced ₹10.70, or 0.98%, to ₹1,105.10, contributing to the Nifty Metal index’s 1.40% gain.

Titan Company added to the positive momentum, climbing ₹28.50, or 0.71%, to ₹4,020.50, backed by buying interest in consumer discretionary stocks. Tech Mahindra moved higher by ₹13.10, or 0.81%, trading at ₹1,625.40, tracking mild optimism in select IT stocks. Eternal gained ₹3.25, or 1.15%, to ₹285.00.

Key Losers Weigh on the Index

Financial and infrastructure stocks dragged the Nifty 50 lower. Adani Ports slipped ₹21.10, or 1.42%, to ₹1,466.00, emerging as the biggest laggard among index constituents. Axis Bank declined ₹7.80, or 0.64%, to ₹1,220.40, while Bajaj Finserv fell ₹11.60, or 0.57%, to ₹2,006.00.

Shriram Finance also ended in the red, shedding ₹5.00, or 0.52%, to ₹955.25, and Power Grid slipped ₹2.50, or 0.94%, to ₹262.95, adding pressure on the benchmark.

Sectoral Performance

While Nifty Metal gained 1.40%, indices such as Nifty Financial Services ex-Bank, Nifty MidSmall Healthcare, and Nifty 500 Healthcare traded lower. Gains were also seen in Nifty Chemicals and Nifty MidSmall IT & Telecom, indicating selective sector rotation.

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Conclusion

The Nifty 50 remained range-bound as gains in metal and consumer stocks were offset by weakness in financials and infrastructure. With limited triggers and mixed global cues, markets may continue to consolidate in the near term.

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