Benchmark stock market indices closed lower on Thursday, breaking a 3-day rally as investors booked profit as tech sell-off in global markets dampened investor sentiment.
The S&P BSE Sensex was down by 503.76 points to close at 83,313.93, while the NSE Nifty50 lost 133.20 points to end at 25,642.80.
Vinod Nair, Head of Research, Geojit Investments Limited, said that equities saw consolidation, as weakness was followed by a sharp rally in recent sessions driven by optimism around the US–India trade deal, suggesting profit booking was at play.
“Global cues added further pressure, with concerns over a broad-based tech sell-off in international markets and heightened US–Iran tensions leading to risk-off sentiment. Metals and small-cap stocks were key underperformers, while broader indices reflected cautious trading,” he added.
After the closing bell, Trent Ltd topped the Sensex gainers, rising 2.95%. Tata Steel Ltd followed with a gain of 1.23%, while State Bank of India Ltd was up 0.50%. Bajaj Finance Ltd added 0.15%, and Adani Ports and Special Economic Zone Ltd ended marginally higher at 0.07%.
On the losing side, Eternal Ltd saw the sharpest fall, dropping 2.50%. Bharti Airtel Ltd declined 1.65%, Bharat Electronics Ltd fell 1.42%, ITC Ltd slipped 1.15%, and ICICI Bank Ltd was down 1.14%.
“Market participants are now turning their attention to the upcoming RBI policy meeting. With India’s growth outlook remaining strong, consensus expectations point toward a status quo on rates,” said Nair.
