The Indian benchmark indices Nifty and Sensex had a lackluster performance on November 27, fluctuating within a narrow range as investors awaited clearer market signals.

The Sensex increased by 35.28 points, or 0.04 percent, to reach 80,039.34, while the Nifty rose by 5.20 points, or 0.02 percent, to settle at 24,199.70.

During the session, realty and pharma stocks declined, with notable underperformers including Cipla, Ultratech Cement, Titan, ONGC, and Britannia Industries.

Market activity showed 2,168 shares advancing against 1,165 declining, with 99 remaining unchanged.

Analysts believe that the Indian markets are likely to consolidate around current levels due to a lack of immediate catalysts for significant movement.

V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned that foreign institutional investors have reduced their selling pressure and have started to make marginal purchases.

He also discussed the potential implications of Donald Trump's proposed tariffs, stating that while they may not have a direct impact on India, they could be subject to scrutiny later due to the trade surplus with the US.