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Sensex and Nifty ended slightly lower after a volatile session, IT stocks dragged while banking and auto gains limited losses, broader markets underperformed.
Broader Markets Underperform As Sensex, Nifty Close Marginally Lower
Indian equity benchmarks ended lower on Thursday, with selling pressure in information technology and broader market stocks outweighing gains in select banking and auto counters.
The BSE Sensex closed at 73,832.55, down 150.63 points or 0.20%, while the NSE Nifty 50 settled at 23,161.60, declining 53.35 points or 0.23%.
Markets witnessed a volatile trading session. The Sensex opened at 73,615.99 and slipped to an intraday low of 73,518.75 before recovering sharply to touch a high of 74,394.34. Similarly, the Nifty moved between 23,072.05 and 23,327.45 during the day.
Despite the recovery from lower levels, benchmarks failed to sustain gains and ended in negative territory.
IT Stocks Under Pressure
The information technology sector emerged as the biggest laggard, with the Nifty IT index falling 1.62%.
Among Sensex constituents, Infosys dropped 2.28%, making it the top loser. HCL Technologies declined 1.61%, while TCS fell 0.78%. Weakness in technology stocks weighed heavily on benchmark indices.
Other notable losers included Adani Ports, Hindustan Unilever, Bajaj Finance, BEL and Larsen & Toubro.
Banking, Auto Stocks Limit Losses
Losses were partially capped by strength in select banking and automobile stocks.
Mahindra & Mahindra was the top Sensex gainer, rising 1.85%. ICICI Bank advanced 1.64%, while Kotak Mahindra Bank gained 1.11%. Sun Pharma, Bharti Airtel and Reliance Industries also ended higher.
The Nifty Private Bank index rose 0.55%, while Nifty Bank edged up 0.14%, helping support the broader market.
Broader Markets Underperform
Broader market indices underperformed frontline benchmarks. The Nifty Next 50 declined 1.12%, while the Nifty Midcap 100 and Nifty Smallcap 100 indices fell 0.81% and 0.67%, respectively.
Among sectoral indices, Nifty Media gained 1.78% and Nifty Pharma rose 0.61%. On the other hand, Nifty FMCG fell 0.89%, Nifty PSU Bank declined 0.89%, and Nifty Consumer Durables lost 1.15%.
Meanwhile, India VIX, often referred to as the market’s fear gauge, slipped 0.12% to 15.61, indicating relatively stable investor sentiment despite the market’s decline.
About the Author
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the I…Read More
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