MUMBAI– Indian equity benchmarks closed in the red on Thursday as broad-based selling in IT, real estate, consumer goods, and energy stocks dragged the market lower amid ongoing Q1 earnings reports and global uncertainty.
The BSE Sensex fell 542.47 points, or 0.66 percent, to end at 82,184.17, snapping the previous session’s gains. The index had opened slightly higher at 82,779.95 but lost steam as heavyweights across key sectors faced pressure, touching an intraday low of 82,047.22.
The NSE Nifty also declined, closing 157.80 points, or 0.63 percent, lower at 25,062.10. Market breadth was negative, with 34 stocks declining and 16 advancing on the Nifty 50.
Sectoral losses were led by a sharp fall in IT stocks, with the Nifty IT index plunging 2.21 percent (down 815 points). Nifty FMCG dropped 1.12 percent, Financial Services fell 0.62 percent, and the Bank Nifty slipped 0.25 percent. PSU banks, healthcare, and pharma stocks bucked the trend and posted gains.
Among the top losers on the Sensex were Tech Mahindra, Bajaj Finserv, Infosys, Kotak Bank, HCL Tech, ITC, Asian Paints, Reliance Industries, and TCS. On the flip side, Tata Motors, Sun Pharma, Tata Steel, and Eternal were among the few gainers.
Broader indices also mirrored the weakness, with Nifty 100 down 144 points, Nifty Midcap 100 falling 346 points, and Nifty Smallcap 100 shedding 206 points.
Vikram Kasat, Head of Advisory at PL Capital, said global developments such as a surprise meeting between Donald Trump and U.S. Federal Reserve officials, stalled U.S.-India trade talks, and tariff uncertainty weighed on market sentiment despite optimism around the recently signed UK-India free trade agreement.
On the currency front, the rupee opened strong with early gains of 0.30 percent, buoyed by a weaker U.S. dollar index near 97.30. However, as the dollar recovered during the session, the rupee pared gains and settled around 86.40, down from the day’s high of 86.25.
Jateen Trivedi of LKP Securities noted that traders remain cautious ahead of next week’s U.S. Federal Reserve policy decision, which could influence market direction in the near term. The rupee is expected to trade between 85.85 and 86.65 in the coming days. (Source: IANS)
