Benchmark indices Sensex and Nifty ended in the red as renewed uncertainty surrounding the Strait of Hormuz negotiations and broad-based weakness in financial stocks overshadowed an otherwise supportive earnings backdrop. The 30-share BSE Sensex closed 455.59 points or 0.58 per cent lower at 78,499.17. During the day, the benchmark hit a high of 78,757.40 and a low of 78,377.07, gyrating 380.33 points. The 50-share NSE Nifty ended flat with a drop of 65.35 points or 0.27 per cent at 24,570.65. However, the broader market ended the session in the green. While the BSE MidCap Select Index gained 35.97 points or 0.19 per cent, the BSE SmallCap Select Index added 17.73 points or 0.20 per cent.
Among sectoral indices, Nifty Financial Services and Nifty Private Bank were the major losers. On the other hand, Nifty Auto and Nifty IT gained around one per cent.
“Energy markets traded in a narrow range after recent gains as uncertainty surrounding negotiations over the Strait of Hormuz kept investors cautious. International benchmark WTI crude hovered near $77.5 a barrel, while domestic crude futures traded around ₹7,400. Although oil prices remain well below their recent highs, they continue to reflect a residual geopolitical risk premium and are likely to remain highly sensitive to developments in the Middle East. Any setback in negotiations could quickly reignite volatility, with India remaining particularly vulnerable given its dependence on crude oil imports,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losers
Among the 30-Sensex firms, TCS, M&M, SBIN, Tech Mahindra and BEL were the major gainers, with TCS gaining 3.53 per cent today. On the flip side, Bajaj Finance, Bajaj Finserv, ICICI Bank, Trent and Axis Bank were among the laggards. The shares of Bajaj Finance and Bajaj Fiserv were among the biggest losers today.
Today, shares of 14 out of 30 Sensex companies closed in the green, while the remaining 18 closed in the red. On the other hand, shares of 24 of the 50 Nifty 50 companies also closed in the green, while the remaining 26 closed in the red.
Rupee traded with a positive bias
Meanwhile, the rupee traded with a positive bias near 95.19, appreciating around 0.09 per cent, supported by slightly weaker crude oil prices, continued FII inflows, and a soft US Dollar Index hovering near 99.80.
ALSO READ:
Will the bill to allow charges on UPI impact merchants or consumers? Here’s what FM Sitharaman said
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
