The Indian stock market closed flat on Saturday, weighed down by weak global cues, as Union Finance Minister Nirmala Sitharaman presented the Union Budget 2025-26 in Parliament.
Despite reaching an intraday high of 77,899.05, the BSE Sensex ended at 77,505.96, gaining just 5.39 points or 0.01 per cent from its previous close.
The NSE Nifty, however, closed lower by 26.25 points, or 0.11 per cent, at 23,482.15. Throughout the session, the index fluctuated between a high of 23,632.45 and a low of 23,318.30.
"The Nifty experienced a roller-coaster session during the Budget announcement. On the daily chart, a small-bodied candle has formed, indicating indecision," market analysts noted.
Among sectoral indices, FMCG, consumer durables, and auto stocks saw strong gains.
The FMCG index surged by 2.94 per cent, while the consumer durables and auto indices climbed 2.32 per cent and 2.54 per cent, respectively.
The real estate sector also performed well, ending the session with a 1.77 per cent gain.
However, the IT sector emerged as the biggest loser, declining by 1.02 per cent.
Other sectors, including Nifty Bank, financial services, metals, pharmaceuticals, healthcare, and oil & gas, also witnessed losses.
The broader market saw mixed performance, with small-cap stocks outperforming as the Nifty Smallcap100 index rose by 0.41 per cent, while the Nifty Midcap100 index declined by 0.42 per cent.
Market experts suggested that the Nifty has support at 23,280, and if it remains above this level, the trend could stay positive.
"In the short term, the index may move towards 23,700–24,000. However, a drop below 23,280 could trigger panic selling," they added.
Market volatility also increased, as reflected in the India VIX, which surged 13.24 per cent to close at 14.10 points.
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