BIZ DESK
Domestic equity markets closed sharply lower on Thursday, as widespread selling in information technology (IT), fast-moving consumer goods (FMCG), and other heavyweight sectors weighed on investor sentiment. Mixed global cues, ongoing concerns over earnings volatility, and profit booking further pressured the indices.
The benchmark BSE Sensex plunged 542 points, or 0.66%, to settle at 82,184, while the NSE Nifty 50 declined by 158 points, or 0.63%, ending the day at 25,062. This marked the third consecutive session of losses, highlighting cautious sentiment among market participants.
Broader market indices mirrored the benchmark’s weakness. The BSE MidCap index declined by 0.43%, while the SmallCap index dipped by 0.50%, indicating that the sell-off was fairly broad-based.
Out of the 30 stocks in the Sensex, 24 ended in the red. Trent emerged as the biggest laggard, tumbling 3.9%, followed by Tech Mahindra, which slipped 3.1%, and Reliance Industries, which shed 1.6%. On the positive side, Eternal surged 3.44%, Tata Motors gained 1.5%, and Sun Pharma advanced by over 0.5%.
At the sectoral level, the pressure was evident with 18 of 21 BSE sectoral indices ending lower. The Focused IT index fell the most, dropping 2.22%, followed by a 1.84% decline in the broader IT index, and Teck, which lost nearly 1.5%. On the upside, Healthcare edged up 0.5%, Metal gained a modest 0.10%, and Auto closed nearly flat with a 0.03% uptick.
The market breadth at the BSE remained negative. Of the 4,042 stocks traded, 2,290 shares declined, 1,569 advanced, while 183 remained unchanged, reflecting a clear tilt toward bearish sentiment. On the NSE, 72 stocks touched their 52-week highs, suggesting selective bullishness in pockets, even as 29 stocks hit their 52-week lows, underscoring underlying caution.
Globally, investor mood remained subdued ahead of key U.S. macroeconomic data and corporate earnings reports. Rising bond yields and hawkish signals from central banks across the globe added to risk aversion.
Analysts suggest that markets may remain volatile in the near term, with investors likely to focus on sectoral rotation, FII/DII flows, and cues from global markets. Traders are advised to remain stock-specific and avoid aggressive positions until clear directional trends emerge.