Domestic equity benchmarks ended Thursday’s session on a subdued note, with both the Sensex and Nifty 50 slipping into negative territory after a day marked by volatility and caution. Investor sentiment remained jittery amid mixed global cues, lackluster corporate earnings, and persistent concerns over global inflation and interest rate trajectories.
At close, the BSE Sensex declined 375 points or 0.45% to settle at 82,259, while the NSE Nifty 50 shed nearly 100 points or 0.40%, ending the day at 25,111. The intraday trading pattern suggested that traders were largely in a wait-and-watch mode, awaiting more clarity from upcoming earnings and macroeconomic data, both domestic and international.
Interestingly, the broader markets outperformed the benchmarks. The BSE Mid-Cap index edged up 0.07%, and the Small-Cap index gained 0.30%, suggesting that retail and domestic institutional investors were selectively optimistic about smaller companies.
Among the Sensex constituents, 23 of 30 stocks ended in the red. Tech Mahindra emerged as the top loser, plunging 2.76%, followed by Infosys (-1.61%) and HCL Tech (-1.20%), as IT stocks bore the brunt of global tech sector weakness and muted guidance. On the flip side, Tata Steel rose 1.62% amid firm metal prices, Trent gained 0.68%, and Titan added 0.46%.
On the sectoral front, out of the 19 indices on BSE, 11 ended lower. The IT sector was the worst hit, with Focused IT down 1.47%, IT index dropping 1.33%, and Teck falling 1.06%. Meanwhile, defensives and cyclical counters showed some resilience — the Power index rose 1.22%, Metal climbed 0.62%, and Commodities added 0.42%.
Market breadth at the BSE was marginally negative — out of over 4,100 stocks traded, 2,040 declined, 2,007 advanced, and 152 remained unchanged, showing a highly stock-specific market environment. On the NSE, 71 stocks touched 52-week highs, reflecting select bullishness, while 19 stocks hit 52-week lows, hinting at persistent pressure in specific pockets.
Looking ahead, analysts caution that market direction will depend heavily on Q1 earnings season, global central bank commentary, and geopolitical developments. Volatility may remain elevated as participants recalibrate their portfolios.