Last Updated on April 23, 2026 5:02 pm by BIZNAMA NEWS
AMN / BIZ DESK
Indian equities remained under pressure for the second straight session on Thursday, as heavy selling in financials, autos, and consumer durables dragged benchmarks lower despite resilience in select pharma counters. The barometer index, S&P BSE Sensex, tumbled 852 points or 1.09% to close at 77,664, while the Nifty 50 slipped 205 points or 0.84% to settle at 24,173. In two sessions, the Sensex has lost 2.03% and the Nifty 1.64%, underscoring the nervous undertone across Dalal Street.
Broader markets also mirrored the weakness, with the BSE MidCap and SmallCap indices shedding 0.33% and 0.49%, respectively. Market breadth tilted sharply in favor of declines, as the NSE advance-decline ratio stood at 1:2. Volatility spiked, with India VIX rising 1.58% to 18.59, reflecting heightened investor caution amid global uncertainties.
Sectorally, pharma and healthcare stocks emerged as rare gainers, with the Nifty Pharma index surging 2.36% and Dr Reddy’s Laboratories jumping over 9%. Media stocks also managed modest gains. However, autos, PSU banks, and consumer durables bore the brunt of selling, with the Nifty Auto index plunging 2.35%.
Global cues remained mixed, with European markets subdued, Asian indices lower on Middle East tensions, and Wall Street buoyed by upbeat earnings despite geopolitical risks.
Sectoral Performance
- Pharma & Healthcare: Outperformed sharply; Dr Reddy’s up 9%, OFSS surged 9%, Delta Corp hit upper circuit.
- Media: Added 0.9%, supported by select entertainment counters.
- Autos: Nifty Auto down 2.35%; Ashok Leyland and Dixon Tech among top midcap losers.
- PSU Banks: Slumped 2.19%; Union Bank fell over 8% after weak NII.
- Consumer Durables: Dropped 1.97%; Havells fell 7% on mixed Q4 performance.
- IT: Infosys down 3%, LTIMindtree slipped 2% ahead of Q4 results.
Economy & Macro Indicators
- HSBC Flash India PMI Composite: Rose to 58.3 in April from 57.0 in March, signaling robust expansion.
- Services PMI: At 57.9 vs 57.5 in March, showing sustained demand.
- Manufacturing PMI: Output index surged to 59.1, highest in months, reflecting strong factory activity.
- Bond Yields: 10‑year benchmark yield rose to 6.949%.
- Currency: Rupee weakened to 94.12 against the dollar.
- Commodities: MCX Gold futures fell 0.70% to ₹1,51,589; Brent crude rose 1.71% to $103.65/bbl.
Global Market Snapshot
- US: Dow futures down 365 points; Wall Street closed higher overnight on upbeat earnings and Trump’s ceasefire extension.
- Europe: Shares declined; UK borrowing fell £20 bn, PMI rose to 52.0. Eurozone PMI contracted to 48.6, sharpest slowdown since Nov 2024.
- Asia: Indices lower amid Strait of Hormuz tensions; Japan PMI hit 54.9, fastest growth in 4 years. South Korea GDP grew 1.7% QoQ, strongest since 2020.