After a day of cautious trading and high volatility, India’s key domestic stock indices, the Sensex and the Nifty 50 on Thursday closed in the negative territory, reflecting broad investor apprehension. This downturn was largely attributed to a combination of mixed global cues and lingering concerns over corporate earnings.
Key Market Index Performance
- Sensex: The S&P BSE Sensex retreated by 375 points, or 0.45%, to settle at 82,259.
- Nifty 50: The NSE Nifty 50 also faced headwinds, closing down by nearly 100 points, or 0.40%, at 25,111.
Broader Market Resilience
Despite the decline in frontline indices, the broader market showed a subtle sign of resilience. The BSE Mid-Cap index managed to eke out a small gain, rising by 0.07%, while the Small-Cap index showed more significant strength, advancing by 0.30%.
Top Stocks: Gainers and Losers
The market’s weakness was clearly visible in the Sensex, where 23 of the 30 constituent stocks closed with losses.
- Major Losers: Technology stocks were a significant drag, with Tech Mahindra losing 2.76%, Infosys down 1.61%, and HCL Tech slipping 1.20%.
- Top Gainers: In contrast, a few stocks bucked the trend. Tata Steel was the top performer, climbing 1.62%, followed by Trent with a gain of 0.68%, and Titan which advanced 0.46%.
Sectoral Performance
The sectoral indices on the BSE also painted a mixed picture.
- Underperformers: The IT sector was hit hardest, with the Focused IT index dropping 1.47%, the general IT index falling 1.33%, and the Teck (Technology, Media, Telecom) index decreasing by 1.06%.
- Outperformers: On the positive side, sectors linked to the core economy and commodities showed strength. The Power index advanced 1.22%, the Metal index added 0.62%, and the Commodities index rose 0.42%.
Market Breadth & Momentum
The overall market breadth on the BSE was negative, indicating that more stocks declined than advanced.
- Decliners: 2,040 companies
- Advancers: 2,007 companies
- Unchanged: 152 companies
At the National Stock Exchange (NSE), 71 companies reached a new 52-week high, while 19 hit a 52-week low, signaling selective momentum in certain parts of the market despite the overall bearish sentiment.
Rupee depreciates by 14 paise to close at 86.08 against US dollar
In the Forex market, the rupee today depreciated by 14 paise to close at 86 rupees and eight paise against the US dollar. The dollar index, which indicates US dollar’s strength against a basket of six other leading currencies, was trading at 98.72 in intra-day trade.
