MUMBAI– The Indian stock market ended marginally lower on Thursday after a volatile session, defying fears of a steep drop following the U.S. imposition of tariffs on India. Buying interest in FMCG stocks helped limit the decline.
The Sensex closed at 81,185.58, down 296.28 points or 0.36%. The index opened sharply lower at 80,695.50 from the previous close of 81,481.86 but rebounded in the afternoon to hit an intraday high of 81,803.27, driven by strength in the consumer sector. However, the rally faded in the final hour amid monthly derivatives expiry pressure.
The Nifty also ended lower, down 86.70 points or 0.35%, settling at 24,768.35.
Despite global concerns, analysts said India’s underlying economic resilience helped avert a market crash.
Top laggards on the Sensex included Tata Steel, Sun Pharma, NTPC, Reliance, Asian Paints, L&T, and Titan. Meanwhile, Hindustan Unilever, ITC, Kotak Mahindra Bank, and Eternal ended in positive territory.
Broader markets saw steeper losses: the Nifty 100 fell 0.38%, the Nifty Midcap 100 dropped 0.93%, and the Nifty Smallcap 100 declined 1.05%.
Among sectoral indices, Nifty FMCG stood out, rising 791 points or 1.44%, buoyed by gains in Hindustan Unilever after solid Q1 earnings. Other sectors closed in the red, with Nifty Auto down 89 points, Nifty IT falling 180 points, and Nifty Bank slipping 188 points.
“Investors gravitated toward domestically oriented, non-discretionary players, especially FMCG, which offered attractive valuations, stable demand, and relative insulation from tariff risks,” analysts noted. (Source: IANS)
