Indian equity markets closed lower on Thursday as investors remained cautious during the holiday-shortened week and avoided fresh positions amid a lack of strong triggers.
Selling pressure in information technology and automobile stocks, coupled with the expiry of Sensex derivatives, weighed on overall market sentiment.
The Sensex ended the session at 85,041.45, down 367.25 points or 0.43 per cent. The Nifty also settled in negative territory, slipping 99.80 points or 0.38 per cent to close at 26,042.30.
On the upside, resistance continues to remain strong between 26,200 and 26,330, where repeated rejections indicate persistent selling pressure.
Despite the broader weakness, a few stocks managed to post gains. Titan, NTPC and Hindustan Unilever emerged as the top gainers on the BSE.
However, losses in heavyweight stocks such as Bajaj Finance, Asian Paints and HCL Technologies dragged the benchmark indices lower.
On the NSE, Titan led the gainers, followed by Hindalco and Nestle India. Asian Paints, Shriram Finance and Bajaj Finance were among the top losers.
The broader market also reflected cautious sentiment, with both midcap and smallcap stocks ending lower. The Nifty Midcap 100 index declined 0.23 per cent, while the Nifty SmallCap 100 index slipped 0.08 per cent.
Sector-wise, IT stocks saw the sharpest decline, with the Nifty IT index falling 1.03 per cent. Auto stocks also remained under pressure, ending 0.52 per cent lower.
In contrast, metal stocks outperformed the broader market, as the Nifty Metal index rose 0.59 per cent by the close of trade.
–IANS
