Benchmark stock market indices closed lower for the 8th straight day as Dalal Street investors await RBI policy decisions amid global uncertainty.
The S&P BSE Sensex lost 97.32 points to close at 80,267.62, while the NSE Nifty50 was down by 23.80 points to end at 24,611.10.
Vinod Nair, Head of Research, Geojit Investments Limited, said that the domestic market traded within a narrow range on the monthly expiry day, as investors exercised caution ahead of the RBI’s policy.
“The market made an attempt to stabilise after last week’s sustained decline. Sectoral performance was mixed, with gains observed in metal and banking stocks, while realty and consumer durables faced selling pressure. Market participants are keenly awaiting the RBI’s commentary for insights into future interest rate trajectories, although a status quo on rates is widely expected,” he added.
The top five gainers were UltraTech Cement, which rose 1.43%, Adani Ports up 1.41%, Tata Motors higher by 1.18%, Bharat Electronics Limited (BEL) gaining 0.96%, and Bajaj Finance adding 0.76%.
ITC fell 1.19%, Titan slipped 1.07%, Trent fell 1.13%, Bharti Airtel was down 1.18%, and Bajaj Finserv declined 0.93%. The fall in several heavyweights showed signs of pressure, pointing towards a market slide despite some strong gainers holding ground.
“The near-term market outlook remains cautious, with price action likely to stay range-bound. Key developments, particularly regarding tariff policies and the upcoming earnings season, will be crucial in shaping the market’s trajectory beyond the current range,” said Nair.
The Nifty Midcap100 fell 0.01% while Nifty Smallcap100 gained 0.08%, and India VIX dropped 2.63%.
Among the sectoral indices, several showed positive momentum with Nifty PSU Bank leading at 1.84%, followed by Nifty Metal at 1.16%, Nifty Auto at 0.40%, Nifty Private Bank at 0.19%, and Nifty Financial Services at 0.02%.
Nifty Media faced the biggest decline at 1.23%, followed by Nifty Consumer Durables which dropped 0.87%, Nifty Realty at 0.62%, Nifty FMCG at 0.43%, Nifty IT at 0.11%, Nifty Pharma at 0.10%, and Nifty Healthcare at 0.03%.
