Midday Market: Sensex holds steady at 81,012.14; Nifty trades at 24,470.35 amid sectoral volatility

As of 1:24 PM IST on December 4, Sensex was at 81,012.14, up by 166.39 points or 0.21 per cent, while Nifty stood at 24,470.35, gaining 13.20 points or 0.054 per cent.

Despite early gains, the market remained volatile due to declines in the auto, metal, and FMCG sectors.

Sector performance

The Nifty Auto index dropped by 1 per cent, with major stocks like Tata Motors, Maruti Suzuki, Bajaj Auto, and M&M leading the decline. The Metal index fell by 0.8 per cent, influenced by losses in Tata Steel, JSW Steel, and Hindalco. Similarly, FMCG, Pharma, and Healthcare sectors saw modest drops.

Mid and small-cap resilience

Despite the volatility in major indices, mid and small-cap stocks showed relative strength, gaining 0.6 and 0.5 per cent, respectively, as retail and HNI investors continue to focus on quality picks.

Stocks to watch

• Wonderla Holidays rose 15 per cent following a QIP launch.

• Suzlon Energy gained 5 per cent after winning a large wind power project.

• Honasa Consumer surged 9 per cent after its CEO increased his stake in the company.

Market outlook

The trend-deciding level for the Nifty is 24,406. A trade above this may lead to a rally, while a drop below could result in profit-booking.