Mumbai— Indian equity markets closed marginally lower on Thursday as global uncertainties weighed on investor sentiment, including rising geopolitical tensions in the Middle East, volatile crude oil prices, and unease over U.S. economic policy signals.
The BSE Sensex slipped 82.79 points, or 0.10%, to settle at 81,361.87. It fluctuated throughout the day, touching a high of 81,583.94 and a low of 81,191.04. The NSE Nifty also ended in the red, down 18.80 points, or 0.08%, closing at 24,793.25.
Market caution intensified following the U.S. Federal Reserve’s decision to hold interest rates steady at 4.25–4.5%, while hinting at persistent inflation and slower economic growth. This fueled concerns of prolonged tight monetary policy, particularly affecting software exporters and other rate-sensitive sectors.
“The Indian equity index experienced rangebound movement with a negative bias as cautious sentiment spread globally, driven by concerns over potential U.S. involvement in the Middle East conflict,” said Vinod Nair, Head of Research at Geojit Financial Services.
Among the top laggards on the Sensex were Bajaj Finance, Tech Mahindra, IndusInd Bank, and Nestle India, which declined between 1.28% and 2.50%. On the flip side, Mahindra & Mahindra, Titan Company, Maruti Suzuki, Bharti Airtel, and Larsen & Toubro posted gains ranging from 0.32% to 1.57%.
Broader markets bore the brunt of the bearish trend. The Nifty Midcap 100 fell 1.63%, and the Nifty Smallcap 100 dropped 1.99%, reflecting deeper weakness in non-large-cap stocks.
Sector-wise, the Nifty Auto index was the lone bright spot, rising 0.52%. In contrast, the Nifty PSU Bank index emerged as the worst performer, tumbling 2.04%. Other sectors, including Metal, Media, and Realty, each recorded losses exceeding 1%.
The Indian rupee extended its losing streak for a third consecutive day, pressured by geopolitical concerns and the Fed’s hawkish tone. “The rupee’s depreciation may continue in the near term, with the USD/INR pair potentially heading towards the 87 to 87.50 range,” said Dilip Parmar of HDFC Securities.
Gold prices remained volatile. On the Comex, gold traded between $3,347 and $3,375 per ounce, while on the MCX, domestic gold ranged from ₹98,650 to ₹99,450 per 10 grams. (Source: IANS)
