MUMBAI– Indian equity markets ended lower on Thursday as investor caution prevailed ahead of the upcoming Q1 earnings season and amid continued uncertainty over potential U.S.-India trade agreements.
The benchmark Sensex declined by 345.80 points, or 0.41 percent, to close at 83,190.28. The 30-share index opened higher at 83,658.20, up from Wednesday’s close of 83,536.08, but slipped into negative territory due to broad-based selling pressure. It hit an intraday low of 83,139.97.
The broader Nifty 50 also ended in the red, falling 120.85 points to close at 25,355.25.
“Domestic equities witnessed a lackluster session, reflecting cautious investor sentiment ahead of key triggers,” said Sundar Kewat, Technical and Derivatives Analyst at Ashika Institutional Equity. “Globally, market participants monitored the evolving narrative around a potential US-India trade agreement, with sentiment remaining subdued as both sides work through negotiation complexities,” he added.
Among Sensex constituents, gainers included Maruti Suzuki, Tata Steel, Bajaj Finance, Tata Motors, TCS, Trent, and Axis Bank. Meanwhile, laggards included heavyweights like L&T, Reliance, Sun Pharma, SBI, HDFC Bank, Mahindra & Mahindra, HCL Tech, and Hindustan Unilever.
On the Nifty, only 12 stocks ended in the green while 38 declined, led by weakness in IT shares ahead of Tata Consultancy Services’ (TCS) Q1 earnings.
“Indian equities concluded the day in the red, weighed down by weakness in IT stocks ahead of TCS’s Q1 results,” said Vinod Nair, Head of Research at Geojit Financial Services.
All key broader indices also finished lower. The Nifty 100 slipped 0.43 percent, Nifty Midcap 100 fell 0.30 percent, and the Nifty Smallcap 100 dropped 0.27 percent.
Sector-wise, indices including Nifty IT, Nifty FMCG, Nifty Auto, and Nifty Bank all closed in negative territory.
In currency markets, the rupee traded nearly flat at 85.65, down 0.07 percent, as mild strength in the U.S. dollar and weak equity sentiment weighed on performance.
“After yesterday’s strong rally, some profit booking was also observed in the currency. The rupee is expected to trade within a range of 85.30 to 85.90,” said Jateen Trivedi of LKP Securities. (Source: IANS)
