Indian equity benchmarks close flat

MUMBAI: India’s benchmark indexes ended little changed on Thursday amid a lack of major triggers and thin trading as the year-end approaches.

The Nifty 50 rose 0.1% to 23,750.2, while the BSE Sensex settled flat at 78,472.48.

Both benchmarks rose about 0.5% in morning trade before surrendering gains.

Domestic equities are taking a breather after last week’s decline, with the Nifty 50 hovering around the support zone of its 200-day moving average, said Ajit Mishra, senior vice president of research at Religare Broking.

The benchmarks had posted their worst week since June 2022 last Friday, hurt by the Federal Reserve’s forecast of fewer rate reductions in 2025 and sustained foreign selling. The Nifty fell below its 200-day moving average on Dec. 20 and has traded below that level for four sessions in a row.

Trading volumes will be light as the year comes to an end, according to analysts, who expect directional cues for the blue-chip indexes to emerge only after the corporate earnings season begins in the second week of January.