Motital Oswal Financial Services remains optimistic about India's growth story in the medium to long run. It remains biased towards large-caps with a 76% allocation. Add Shriram finance: To capitalize on its diversified AUM mix, enhanced cross-selling opportunities

On January 8, strong backing from Reliance Industries prevented major indices from significant declines. Oil and gas stocks surged due to rising crude prices, while support from the IT sector and ITC share rebounds helped the indices recover to end the session flat.

The Sensex closed unchanged at 78,472, while the Nifty edged 23 points higher to settle at 23,750. This marks the third consecutive series of losses for the markets, the first such instance in 21 months,

The Nifty 50 index would need to breach above the important 200 period MA at 23,900 level and thereafter, to trigger a breakout, says experts.

Highlights: Among the broader markets, small-cap shares outperformed others, with the Nifty Smallcap100 ending up 1.35 per cent

The Nifty 50 concluded the session with a gain of 0.39% at 23,707, while the Sensex wrapped up the session at 78,199, 0.30% higher than the previous close.