Stock market ends flat as metals lift late recovery, IT stocks weigh

The stock market ended little changed on Thursday, erasing most of the day’s losses in a late-hour rebound on monthly derivatives expiry, as gains in metal and financial stocks offset weakness in IT and select midcaps.

The NSE Nifty 50 index closed down 30 points, or 0.12%, at 25,936, while the S&P BSE Sensex slipped 151 points, or 0.18%, to end at 84,628. The Nifty recouped more than 140 points from the day’s lows to hold above the 25,900 level.

Metal stocks led the recovery, with Tata Steel and JSW Steel among the top gainers on the Nifty after brokerage upgrades citing improved pricing outlook and margin recovery. The Nifty Metal index rose nearly 1.5%.

Financials also provided support, with SBI Life Insurance extending gains for a second straight session after posting a strong September-quarter performance, rising nearly 5% in two days. Indus Towers added 4%, building on its recent rally following healthy Q2 results, while Indian Bank led the PSU Bank index higher with a 3% jump.

On the downside, Vodafone Idea slid 6% on profit-taking after the Supreme Court’s order on the adjusted gross revenue (AGR) case, while Supreme Industries fell nearly 5% after the company trimmed its volume growth outlook.

Upstream oil producers declined as crude prices slipped below $65 a barrel, with Oil India shedding about 2%. MCX lost 2% after trading was halted for nearly four hours due to a technical glitch.

Among midcaps, TVS Motor fell over 2% despite reporting in-line quarterly earnings, while CarTrade Tech surged 15% after the company reported a strong Q2 and guided for margins of 55–56%. Newgen Software gained 10% after delivering robust results. Laurus Labs extended its recent rally, up 2% and 14% so far this month.

Market breadth tilted in favour of declines, with a 2:3 advance-decline ratio on the NSE.