Stock markets ended lower on Thursday in a volatile session as profit-taking in banking and financial stocks weighed on benchmarks after a recent strong rally. The 30-share BSE Sensex fell 122.56 points, or 0.16 per cent, to close at 77,988.68. The index opened on a positive note and touched an intraday high of 78,730.32 in late morning trade. However, selling pressure at higher levels dragged it down to a low of 77,674.93, resulting in a swing of over 1,000 points during the session.
The NSE Nifty declined 34.55 points, or 0.14 per cent, to settle at 24,196.75. It moved between an intraday high of 24,400.95 and a low of 24,102.80 during the day. The indices had surged more than 1 per cent on Wednesday amid easing geopolitical tensions, prompting investors to book profits on Thursday.
Among Sensex constituents, HDFC Bank was the top loser, falling 1.75 per cent. Titan, Mahindra & Mahindra, Bharti Airtel, Kotak Mahindra Bank, and Bajaj Finance were also among the major laggards. On the other hand, Trent, Eternal, Adani Ports, Bharat Electronics, and Infosys were among the gainers.
Market experts said the session reflected consolidation after the recent sharp rebound, with investors opting for profit booking. Hariprasad K, Research Analyst and Founder of Livelong Wealth, noted that the market opened strong on improving global cues but failed to sustain gains as selling emerged through the day.
He added that sentiment remains sensitive to geopolitical developments in the Middle East. Early optimism over potential US-Iran talks helped ease crude oil prices, though cautious investor behaviour limited further upside.
Vinod Nair, Head of Research at Geojit Investments, said the market closed with marginal losses on the weekly expiry day as investors booked profits after recent gains, while awaiting clarity on US-Iran negotiations.
Ajit Mishra, SVP Research at Religare Broking, said global optimism around peace talks helped stabilise crude oil prices, influencing sentiment during the session.
Also read: Rupee gains 6 paise against US dollar
In broader markets, the BSE MidCap Select index rose 0.86 per cent and the SmallCap Select index gained 0.60 per cent. Sectorally, metals, IT, and energy stocks supported the market, while banking and auto shares came under pressure.
Asian markets, including South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng, ended higher. European markets were also in positive territory, while US markets closed mostly higher on Wednesday.
Brent crude rose 1.51 per cent to USD 96.36 per barrel. Foreign Institutional Investors (FIIs) bought equities worth Rs 666.15 crore on Wednesday, according to exchange data.
On Wednesday, markets had rallied sharply, with the Sensex gaining 1,263.67 points and the Nifty rising 388.65 points.
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