On Thursday, benchmark stock indices closed lower, primarily dragged down by a decline in IT stocks that outweighed gains in the metal sector.
The S&P BSE Sensex fell 375.24 points to 82,259.24, while the NSE Nifty50 declined 100.60 points to 25,111.45.
According to Vinod Nair, Head of Research at Geojit Financial Services, the markets saw marginal losses as investors stayed cautious amid weak Q1 earnings, especially in technology and banking. He noted that high valuations of large-cap stocks and FII outflows linked to uncertainties around the US-India trade deal also weighed on sentiment. However, he added that any positive news could quickly improve market momentum.
Top Nifty Gainers:
-
Tata Steel: +1.62%
-
Trent: +0.68%
-
Titan: +0.45%
-
Tata Motors: +0.41%
-
UltraTech Cement: +0.30%
Top Nifty Losers:
-
Tech Mahindra: -2.76%
-
Infosys: -1.61%
-
HCL Technologies: -1.20%
-
Eternal: -0.97%
-
Larsen & Toubro: -0.78%
Broader Markets:
-
Nifty Midcap100: -0.17%
-
Nifty Smallcap100: -0.12%
-
India VIX (Volatility Index): +0.02%
Sectoral Performance:
Gainers:
-
Nifty IT: +1.39%
-
Nifty Realty: +1.24%
-
Nifty PSU Bank: +0.79%
-
Nifty Metal: +0.67%
-
Nifty Consumer Durables: +0.50%
-
Nifty Pharma: +0.38%
-
Nifty FMCG: +0.26%
-
Nifty Healthcare: +0.18%
Losers:
-
Nifty Private Bank: -0.58%
-
Nifty Financial Services: -0.33%
-
Nifty Media: -0.25%
-
Nifty Oil & Gas: -0.20%
-
Nifty Auto: -0.04%
Despite the overall dip, Nair pointed out that strong domestic liquidity and selective buying in real estate and consumption stocks helped limit the downside, keeping markets range-bound. He emphasized that India's macro fundamentals, such as GDP growth and stable inflation, remain supportive in the medium to long term.
