The Indian stock market closed in the red on Thursday, with heavy selling across all sectors except PSU banks. The Sensex fell 836 points, or 1.04%, closing at 79,541.79, while the Nifty dropped by 284.70 points, or 1.16%, ending at 24,199.35.
The benchmark indices saw a decline of over 1%, driven by widespread losses in major sectors.
The metal sector bore the brunt of the sell-off, with auto, pharma, realty, energy, and infrastructure sectors also witnessing declines of more than 1%. Other sectors like IT, financial services, FMCG, media, and private banks also ended the day in the red.
State Bank of India (SBI) and Tata Consultancy Services (TCS) were among the top laggards on the Sensex, while gainers included Tata Motors, Tech Mahindra, JSW Steel, Sun Pharma, and Asian Paints.
Out of the 4,053 companies traded on the BSE Sensex, 2,129 stocks declined, while 1,825 stocks advanced, and 99 remained unchanged.
According to market experts, the domestic market ended with a deeper cut while eroding Wednesday’s gain over the Trump trade. Disappointing Q2 and persistent selling by FIIs continue to dampen market sentiment. However, investors are now shifting their attention to the upcoming Fed policy meeting and domestic public outlay, which are anticipated to offer more insight into the future trade path.
The rupee weakened slightly, trading at 84.36 to the dollar, down by 0.04. The dollar index held steady around 104.50, reflecting investor caution as they awaited the Fed’s decision on interest rates.