Benchmark indices Sensex and Nifty extended their decline on Thursday as escalating geopolitical tensions in the Middle East, a renewed surge in crude oil prices and heavy selling in Tata Group stocks combined to weigh on investor sentiment. The 30-share BSE Sensex fell 187.90 points or 0.24 per cent to 77,966.35. During the day, the benchmark hit a high of 78,263.33 and a low of 77,497.93, gyrating 765.51 points. Similarly, the 50-share NSE Nifty ended 35.75 points or 0.15 per cent lower at 24,435.95. However, the broader market ended the session mixed. While the BSE MidCap Select Index gained 31.16 points or 0.17 per cent, the BSE SmallCap Select Index added 0.39 points.
Among sectoral indices, Nifty PSU Bank was the major gainer with a gain of 2.05 per cent. On the other hand, Nifty IT dropped 1.54 per cent, and Nifty Auto dropped 0.32 per cent.
“Indian equity markets extended their decline on Thursday as escalating geopolitical tensions in the Middle East, a renewed surge in crude oil prices and heavy selling in Tata Group stocks combined to weigh on investor sentiment. The absence of progress in U.S.-Iran negotiations and fresh attacks near key energy shipping lanes revived concerns over prolonged supply disruptions, pushing oil prices higher and prompting investors to reduce exposure to risk assets. The renewed rise in crude also added pressure on the Indian rupee, reinforcing concerns over imported inflation and India’s external balance,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losers
Among the 30-Sensex firms, SBIN, Bharti Airtel, UltraTech Cement, Power Grid and Reliance were the gainers, with SBIN gaining 1.31 per cent today. On the flip side, TCS, M&M, Tata Steel, L&T and Eternal were among the laggards. The shares of TCS fell 3.71 per cent today.
Today, shares of 9 out of 30 Sensex companies closed in the green, while the remaining 21 closed in the red. On the other hand, shares of 17 out of 50 Nifty 50 companies also closed in the green, with gains, while the other 30 closed in the red and two remained unchanged. Three of them remained unchanged.
Rupee traded in a narrow range
Meanwhile, the rupee traded in a narrow range near 95.32, as early gains in crude oil prices kept the currency under pressure.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
