Closing Bell: Nifty, Sensex end nearly 0.20% lower; pharma, healthcare top laggards

The Indian markets traded in a narrow range throughout the day as it failed to keep momentum and ended lower, snapping three-day positive closing, on Thursday. 

Benchmarks Nifty50 and the Sensex ended nearly 0.2% lower as Nifty remained below 17,500, while the latter dropped more than 100 points.  

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We witnessed some lackluster movement in the market and an attempt to hold above the levels of 17400, said Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research Limited.  

"Our research suggests that sustaining above 17,400 will be an important level for the market to stay positive in the short term. If the market stays above the support levels, we expect the market to stay positive till the level of 17,600. We have observed momentum indicators like RSI and MACD indicating positive side momentum in the market," added the expert.  

In the broader market, Nifty midcap and small cap indices managed to end in the green as India VIX remained below 21-mark.  

Sectorally, Pharma, healthcare and PSU Bank stocks witnessed huge selling pressure, while FMCG and Private Bank stocks saw buying interest in a falling market. The 12-share Nifty Bank closed with marginal gains to end in the green around 36,350. 

Hindalco, Divis Laboratories, Apollo Hospitals, RIL, Dr Reddy's, Wipro, Sun Pharma, Kotak Bank and Maruti dropped the most as markets turned negative after three days.  

Britannia, JSW Steel, Hindustan Unilever, Tata Consumers, Axis Bank, M&M, IndusInd Bank, Bharti Airtel, Titan and Nestle India gained amid volatility.  

(Disclaimer: The views/suggestions/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)