Nifty opened higher and briefly retook its 21-DMA. However, the opening gains were deceiving and the index was not able to hold gains. During the day, Nifty briefly undercut its 50-DMA (12,103) but managed to close above it. In the broader market, both Midcap and Smallcap closed marginally in the red.
On the sectoral front, Nifty Metal (-1.7%) was the top decliner. Nifty Auto, Bank, and Financial Services were down 0.8–1%. On the flip side, only Nifty Media (+1.6%) and IT (+1%) gained substantially. Nifty FMCG, Pharma, and PSU Bank closed relatively flat.