India’s benchmark indices ended lower on Thursday, weighed down by selling in information technology and banking stocks amid weak Q1 earnings and concerns over foreign institutional investor (FII) outflows linked to global trade uncertainties.
The BSE Sensex closed at 82,259.24, down 375.24 points or 0.45 percent, while the NSE Nifty slipped 100.60 points or 0.40 percent to settle at 25,111.45.
“Indian equity benchmarks ended marginally lower as investors exercised caution amid subdued Q1 earnings announcements, particularly in the technology and banking sectors,” said Vinod Nair, Head of Research at Geojit Financial Services.
He added that elevated valuations in large-cap stocks and FII outflows continued to dampen sentiment, though any positive catalysts could quickly revive momentum.
Among the biggest losers on the Sensex were Tech Mahindra, HCL Tech, Infosys, Eternal, TCS, Axis Bank, Bajaj Finserv, and HDFC. Tata Steel, Trent, Tata Motors, and Titan managed to end in positive territory.
From the Nifty 50, 19 stocks advanced while 31 declined.
Broader indices mirrored the weakness. The Nifty Next 50 dropped 159.10 points, the Nifty Midcap 100 lost 100 points, and the Nifty Smallcap 100 closed 22.75 points lower.
Sectorally, the losses were broad-based. The Nifty IT index plunged 522 points, while Nifty Bank and Nifty Financial Services fell 230 points and 106 points, respectively. However, Nifty FMCG defied the broader trend and closed higher.
The rupee weakened by 0.12 percent to 86.02 against the U.S. dollar, pressured by capital market weakness and a firm dollar index, which held near 98.70.
“Nifty remained mostly under selling pressure throughout the day as the index failed to move beyond the crucial resistance level of 25,260, leading to long unwinding. On the hourly chart, a consolidation breakout is visible, indicating weakening bullish momentum,” said Rupak De from LKP Securities.
(With inputs from IANS)