Indian equity indices finished largely unchanged on November 13, navigating a highly volatile trading session marked by cautious sentiment and profit booking in the final hour. The benchmark Sensex edged up 0.01% to settle at 84,478.67, while the Nifty added a marginal 0.01% to close at 25,879.15. Broader markets underperformed, with both the Nifty Midcap100 and Smallcap100 indices slipping around 0.4% each.
Market participants adopted a wait-and-watch approach ahead of two major events: the Bihar state election outcome due on Friday morning, and the release of crucial U.S. CPI data, which is expected to offer fresh cues on the Federal Reserve’s interest rate trajectory.
Despite the cautious trading, the overall macro backdrop remains supportive. According to Siddhartha Khemka, Head of Research, Wealth Management, Motilal Oswal Financial Services, the equity background is buoyant after retail inflation eased sharply to a decade-low of 0.25% in October. This sharp moderation, driven by GST rate reductions and softening food prices, has strengthened expectations of a possible RBI interest rate cut as early as the December MPC meeting. Furthermore, the Union Cabinet approved a ₹450.6 billion support package for exporters, bolstering competitiveness and mitigating global trade impacts.
Sectorally, the market witnessed a mixed trend, reflecting selective buying interest. Nifty Pharma, Metals, and Realty advanced by approximately 0.4% each, while PSU Bank, IT, and Media indices declined. Technically, the Nifty formed a high wave candle, indicating consolidation with a positive bias. The index maintains strong support near the 25,300–25,400 levels and is expected to head towards 26,100 in the coming sessions.
