Benchmark indices Sensex and Nifty pared early gains to end the session in the red as elevated crude prices and continued FII selling overshadowed optimism surrounding India-US trade negotiations. The 30-share BSE Sensex closed 143.21 points or 0.19 per cent lower at 73,709.69. During the day, the benchmark hit a high of 74,682.19 and a low of 73,229.45, gyrating 1,452.74 points. Similarly, the 50-share NSE Nifty shed 77.60 points or 0.34 per cent to close at 22,811.35. Similarly, the broader market ended the session in the red. The BSE MidCap Select Index fell 253.35 points, or 1.46 per cent, while the BSE SmallCap Select Index fell 201.89 points, or 2.29 per cent.
Among sectoral indices, Nifty IT was the biggest gainer, up 2.88 per cent. Meanwhile, Nifty Metal and Nifty Auto fell 1.71 per cent and 1.54 per cent respectively.
“Indian equity benchmarks ended lower for a second consecutive session, extending recent losses as selling pressure spread beyond the frontline stocks. The indices began on a firm note but reversed course after midday before paring some losses towards the close. Weakness was more pronounced across mid- and small-cap stocks, signalling a deterioration in broader market sentiment…Continued foreign selling and persistent weakness in banking and auto stocks could limit any recovery, leaving IT as a key source of support for the broader market,” said Ponmudi R, CEO of Enrich Money.
Top gainers and losers
Among the 30-Sensex firms, HCL Tech, Infosys, Tech Mahindra, TCS, and UltraTech Cement were the major gainers, with HCL Tech gaining 3.40 per cent today. On the flip side, Bajaj Finance, Eternal, Trent, Axis Bank and NTPC were among the laggards. Bajaj Finance shares fell 3.33 per cent today.
Today, 11 of the 30 Sensex companies closed in the green, while the remaining 19 closed in the red. Meanwhile, 16 of the 50 Nifty 50 companies also closed in the green, while the other 34 closed in the red, and one remained unchanged.
Rupee continues upward trajectory
Meanwhile, the Indian rupee strengthened by around 0.44 per cent to 94.45, supported by optimism over a potential India-US trade agreement after US President Donald Trump said a deal could be announced soon.
ALSO READ:
