Benchmark indices Sensex and Nifty ended the session in the red due to selective selling in banking and IT stocks. Also, investors remained risk-averse amid escalating geopolitical tensions in the Middle East. The 30-share BSE Sensex closed 238.41 points lower at 77,470.11. During the day, the benchmark hit a high of 77,753.18 and a low of 77,337.33, gyrating 415.85 points. The 50-share NSE Nifty was down by 50.80 points or 0.21 per cent and ended the session at 24,187.70. Despite geopolitical challenges, midcaps are performing well in anticipation of strong corporate earnings. The broader market ended the session in the green. While the BSE MidCap Select Index gained 36.14 points or 0.20 per cent, the BSE SmallCap Select Index fell 14.30 points or 0.16 per cent.
Among sectoral indices, Nifty Bank and Nifty IT witnessed selling pressure, followed by Nifty FMCG.
“It was another subdued session on Dalal Street, with Nifty declining 50 points to close at 24,187…Broader markets continued to outperform the benchmark. The Nifty Midcap 100 rose 0.30%, while the Nifty Smallcap 100 gained 0.53%. Market breadth stayed positive for the second session in a row, with the BSE advance-decline ratio at 1.08, signalling buying interest in mid- and small-caps for the second consecutive session. ,” said Nandish Shah – Deputy Vice President, HDFC Securities.
Rupee falls 14 paise
Meanwhile, the rupee weakened by around 22 paise to 96.23, as crude oil prices continued to hold above USD 85 per barrel and persistent FII outflows kept pressure on the domestic currency.
