MUMBAI– Indian equity benchmarks ended lower on Thursday, snapping a three-day winning streak as investors stayed cautious amid uncertainty over global macroeconomic developments and foreign institutional investment trends.
The Sensex fell 503 points, or 0.60 percent, to close at 83,313, while the Nifty declined 113 points, or 0.52 percent, to settle at 25,642.
Broader markets underperformed the benchmarks, with the Nifty Midcap 100 slipping 0.28 percent and the NSE Smallcap 100 dropping 1.29 percent.
Most sectoral indices finished in the red. PSU bank stocks were the lone bright spot, with the Nifty PSU Bank index gaining 0.38 percent. Metal stocks led the losses, falling 1.02 percent, while IT and auto indices declined more than 0.50 percent each.
Market activity remained selective and largely stock-specific. Analysts said modest interest in export-oriented and select cyclical stocks was outweighed by profit-taking in recent outperformers, resulting in subdued benchmark performance.
According to market observers, Bank Nifty continued to trade below its rising trend line and the intraday volume-weighted average price zone of around 60,150–60,180, indicating a weak short-term structure and limited bullish momentum.
The Indian rupee traded within a narrow range against the U.S. dollar and stood at 90.32 per dollar, reflecting balanced demand and supply conditions amid stable global cues.
Investors are also awaiting further clarity on developments related to U.S.–Iran negotiations, which continue to influence global risk sentiment.
The Nifty 50 remained locked in a tight consolidation range, with repeated failures to sustain moves on either side. After an early decline, the index found support in the 25,580–25,600 range, which acted as a consistent demand zone throughout the session.
Analysts said the short-term bias remains sideways to mildly weak, with the index likely to move between 25,580 and 25,750 unless a decisive breakout or breakdown occurs with strong volumes. (Source: IANS)
