Indian stock markets ended in the red on Thursday, weighed down by weak global cues, particularly from Asian markets, which dampened investor sentiment across sectors.
The benchmark BSE Sensex dropped 644.64 points or 0.79 per cent to settle at 80,951.99. It fluctuated between an intraday low of 80,489.92 and a high of 81,323.24. The NSE Nifty also declined by 203.75 points or 0.82 per cent, ending the session at 24,609.70.
“Technically, Nifty formed a red candle on the daily chart, indicating near-term weakness,” said Hrishikesh Yedve of Asit C. Mehta Investment Intermediates Ltd. He noted that the index found support near its 21-Day Exponential Moving Average (21-DEMA) around 24,445, while 25,000 remains a key resistance level in the short term.
Auto, FMCG, and consumer-focused stocks led the declines on the 30-share index. Power Grid, Mahindra & Mahindra, ITC, Bajaj Finserv, and HCL Technologies were among the major losers.
Meanwhile, IndusInd Bank topped the gainers’ list with a 1.82 per cent rise, followed by Bharti Airtel, which gained 0.44 per cent. UltraTech Cement also posted a marginal gain of 0.10 per cent.
In the broader markets, the Nifty Midcap100 and Smallcap100 indices ended lower by 0.52 per cent and 0.26 per cent, respectively.
Across sectors, selling pressure was visible, with the exception of Nifty Media, which managed to close in positive territory. Sectoral laggards included Nifty IT, Auto, FMCG, Consumer Durables, and Oil & Gas — all of which saw losses exceeding 1 per cent.
The Nifty FMCG and Consumer Durables indices fell by over 1 per cent each, while the IT and Pharma indices declined 0.87 per cent and 0.9 per cent, respectively.
India VIX, the volatility index often referred to as the market’s fear gauge, slipped 1.65 per cent to close at 17.26, suggesting a slight easing in investor anxiety.
(IANS)