Indian equity benchmarks ended Thursday’s session on a mixed note, with modest overall movement as gains in select sectors were offset by sharp losses in FMCG stocks. Market sentiment remained cautious throughout the day, with heavy selling pressure in tobacco-related shares weighing on the broader indices. The S&P BSE Sensex slipped by 32 points to settle at 85,188.60, while the NSE Nifty50 managed to edge higher by 16.95 points to close at 26,146.55.
The day’s trading was marked by a sharp divergence across sectors. Auto and IT stocks provided some support to the market, but this was not enough to counter the steep fall in FMCG heavyweights. ITC emerged as the biggest drag on the benchmarks, plunging nearly 10 per cent to hit a fresh 52-week low after the government announced a new cess on tobacco products. Godfrey Phillips also witnessed heavy selling, with its shares tumbling nearly 17 per cent, further dampening sentiment in the FMCG space.
Among the Sensex constituents, NTPC topped the gainers’ list, rising 1.94 per cent, followed closely by Eternal, which also gained the same percentage. Larsen & Toubro advanced 1.28 per cent, while Power Grid Corporation of India climbed 1.23 per cent. Mahindra & Mahindra rounded out the top five gainers with a rise of 1.12 per cent, as buying interest returned to select infrastructure and power stocks.
On the downside, ITC led the losses with a sharp fall of 9.69 per cent, exerting significant pressure on the indices. Bajaj Finance declined 1.46 per cent, Asian Paints slipped 0.57 per cent, Bharat Electronics fell 0.48 per cent, and ICICI Bank ended the session 0.42 per cent lower. Despite these declines, gains in power, infrastructure and PSU stocks helped prevent a deeper correction in the market.
In the broader market, performance remained mixed. The Nifty Midcap 100 index rose by 0.44 per cent, indicating continued interest in select mid-sized companies, while the Nifty Smallcap 100 slipped marginally by 0.05 per cent. Market volatility eased slightly, with India VIX falling by 3.06 per cent by the end of the session.
Sectoral indices painted a largely positive picture, barring FMCG and healthcare. Nifty Auto gained 1.03 per cent, while Nifty Financial Services 25/50 added 0.24 per cent. The IT index advanced 0.76 per cent, Media rose 0.26 per cent, Metal climbed 0.79 per cent, and Pharma posted strong gains of 3.40 per cent. PSU Bank stocks were up 0.45 per cent, Private Banks gained 0.23 per cent, Realty rose 0.84 per cent, Consumer Durables edged up 0.15 per cent, and Oil and Gas finished almost flat with a marginal rise of 0.01 per cent.
In contrast, the FMCG sector bore the brunt of selling pressure, with the Nifty FMCG index plunging 3.17 per cent. The Nifty Healthcare index also ended in negative territory, slipping 0.19 per cent. Overall, the market reflected a cautious tone, with investors selectively buying into strength while staying wary of policy-driven risks affecting certain sectors.
