Our Business Correspondent
Indian equity benchmarks ended marginally lower on Thursday after a highly volatile trading session dominated by weekly Sensex derivatives expiry and profit booking at higher levels. Despite mixed global cues, broader market sentiment remained resilient amid hopes of easing geopolitical tensions in the Middle East and encouraging quarterly earnings announcements.
The benchmark indices oscillated between gains and losses throughout the day before closing slightly in the red. The BSE Sensex slipped 114 points, or 0.15%, to settle at 77,844.52, while the NSE Nifty 50 edged down 4.30 points to close at 24,326.65.
Market participants drew comfort from declining crude oil prices, a firmer rupee and optimism surrounding a possible diplomatic breakthrough between the United States and Iran. Brent crude futures fell below the psychologically significant $100-per-barrel level, easing concerns over imported inflation and external account pressures for India.
Analysts said softer energy prices and currency stability helped cushion downside risks even as investors booked profits in heavyweight FMCG and IT counters. Shares of Hindustan Unilever, TCS and ITC emerged among the top laggards, dragging benchmark indices lower.
However, the broader market significantly outperformed frontline indices. The BSE MidCap and SmallCap indices gained nearly 1% each, while the Nifty Midcap 150 touched a fresh record high during intra-day trade, reflecting continued appetite for domestic growth-oriented stocks.
Auto and private banking shares remained in demand following strong quarterly earnings, with Bajaj Auto gaining nearly 3% after reporting robust profit growth for the March quarter. Engineering and infrastructure major Larsen & Toubro also ended higher after securing fresh real-estate project orders across multiple states.
Several mid-sized companies witnessed sharp gains after posting strong earnings numbers. Craftsman Automation surged nearly 11%, Bharat Forge rose over 6%, while CarTrade Tech rallied following better-than-expected quarterly performance. Investors also reacted positively to Fairfax India’s planned investment in IIFL Capital Services.
Globally, Asian markets advanced amid hopes of renewed U.S.-Iran negotiations that could reduce geopolitical risks and stabilise oil supplies. Overnight gains on Wall Street also supported sentiment after U.S. equities hit fresh record highs on expectations of a potential peace framework.
Meanwhile, European markets traded lower as investors remained cautious over unresolved differences in proposed nuclear negotiations between Washington and Tehran.
Market experts said investors are likely to remain focused on earnings momentum, crude oil trends, global bond yields and geopolitical developments for further direction in the near term.
Disclaimer: This report is for informational purposes only and should not be construed as investment or financial advice. Investors are advised to consult certified financial advisors before making investment decisions.