Benchmark indices Sensex and Nifty ended the session in the red as elevated crude oil prices continue to weigh on investor sentiment. The 30-share BSE Sensex fell 555.23 points or 0.73 per cent to settle at 75,577.58. During the day, the benchmark hit a high of 76,01.11 and a low of 75,553.35, gyrating 458.76 points. The 50-share NSE Nifty ended with a drop of 144.05 points or 0.61 per cent and closed the session at 23,635.10. However, the broader market ended the session mixed. While the BSE MidCap Select Index gained 147.40 points or 0.79 per cent, the BSE SmallCap Select Index fell 1.15 points or 0.06 per cent.
Among sectoral indices, Nifty Private Bank and Nifty IT dropped 0.98 per cent and 0.37 per cent, respectively. However, Nifty Pharma outperformed, gaining 0.77 per cent.
“Indian equity markets ended lower on a weak note, extending their slide to a seven-week low and maintaining the prevailing bearish trend as elevated crude oil prices and persistent geopolitical uncertainty continued to weigh on investor sentiment. Selling pressure remained visible through the session. India VIX rose over 1.6 per cent, signalling nervous positioning among traders, following overall Asian markets ending in negative territory. Bank and financial services stocks led the losses, dragging the broader market lower even as select pockets tried to hold up. The sustained pressure in benchmark indices reflects a combination of elevated crude prices, geopolitical tensions and concerns over the possibility of tighter global monetary conditions. Overall, the market remains in a “sell on rise” mode, while DII buying remains the only real cushion preventing a sharper fall,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losers
Among the 30-Sensex firms, BEL, Adani Ports, Hindustan Unilever, Indigo and HCL Tech were the major gainers, with BEL gaining 1.48 per cent today. On the flip side, ICICI Bank, Axis Bank, UltraTech Cement, Kotak Bank, and Reliance were among the laggards. Shares of ICICI Bank fell 2 per cent today.
Rupee trades weaker
Meanwhile, the rupee traded weak at 94.81, down 0.29 per cent, as the dollar hovered near 98.95 and Brent crude remained elevated around USD 97. Forex traders said the Indian rupee declined on a surge in crude oil prices amid fresh attacks on Aramco’s facilities by Yemen’s Houthis.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
