Indian equities ended flat on Thursday, as gains in metal stocks and upbeat earnings were offset by caution ahead of Bihar’s state election results, seen as key for policy continuity.
The Nifty 50 inched 0.01% higher to 25,879.15, and the BSE Sensex added 0.01% to 84,478.67.
The benchmark indexes have advanced about 1.5% over the course of the last three sessions, placing them roughly 1.5% below record highs hit in September 2024.
While the overall market remains positive due to improving domestic demand, record-low headline inflation, easing trade worries and earnings optimism, investors took a breather ahead of the Bihar state election results on Friday, said three analysts.
Exit polls suggest the ruling National Democratic Alliance ison track to retain power in the state.
“A negative surprise in Bihar elections outcome would signal weakness in markets,” said Dhupesh Dhameja, analyst at SAMCO Securities.
Meanwhile investor sentiment was supported on the day after U.S. President Donald Trump signed legislation to end a historically long government shutdown, easing growth concerns and boosting the demand outlook for commodities.
Metals gained 0.4%, supported by the Indian government’s decision to impose anti-dumping duty on some steel imports from Vietnam to protect the domestic industry.
IT index which climbed about 5% in the last three sessions, fell 0.5% on the day.
The broader small-caps and mid-caps fell about 0.4% each, while nine of the 16 major sectors logged losses.
Among stocks, Asian Paints jumped 3.8%, after gaining 4% in the previous session on reporting a profit bump from growth in decorative paints.
Automaker Ashok Leyland gained 5.5% after reporting a better-than-expected profit in the second quarter.
Digital beauty and personal care company Honasa Consumer jumped 2.6% after reporting a profit in the September quarter compared to a year-ago loss.
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