India’s benchmark indices fell on Thursday as escalating tensions between Russia and Ukraine dampened investor sentiment. The Sensex dropped 422 points, or 0.54 percent, to close at 77,155, while the Nifty declined 168 points, or 0.72 percent, ending at 23,349.
Market breadth was negative, with 2,735 stocks in the red, 1,235 gaining, and 95 unchanged. The Nifty Midcap 100 index lost 162 points, or 0.30 percent to close at 54,385, while the Nifty Smallcap 100 dropped 80 points, or 0.46 percent to end at 17,596.
Among sectoral indices, auto, PSU banks, financial services, pharma, FMCG, metals, and energy led the declines, while IT and realty were the only sectors to post gains.
Top gainers included Power Grid, UltraTech Cement, HCL Tech, Kotak Mahindra Bank, Axis Bank, TCS, ICICI Bank, and Infosys. Major laggards were SBI, NTPC, ITC, Asian Paints, Bajaj Finance, Reliance Industries, and Tata Motors.
Rupak De of LKP Securities said that short-term market sentiment remains weak, with key support at 23,200. “A fall below this level could trigger a correction in the market. On the upside, resistance is placed at 23,550 and a decisive move above this level might induce a rally in the market,” he added.
Meanwhile, the rupee weakened further to 84.51, pressured by a stronger dollar, which climbed above 106.65 amid global uncertainties. Gold prices surged as geopolitical tensions reignited safe-haven demand, driven by renewed fears over nuclear risks in the Russia-Ukraine conflict.
(With IANS input)