MUMBAI — Indian equity markets declined sharply for a second consecutive day on Thursday, with benchmark indices falling about 1 percent each as escalating tensions in West Asia weighed on investor sentiment.
The Sensex closed at 77,664, down 852 points or 1.09 percent, while the Nifty ended at 24,173, losing 205 points or 0.84 percent. Selling pressure was seen across key sectors, including auto, banking, IT, and real estate.
Major laggards during the session included Tech Mahindra, Infosys, Tata Motors Passenger Vehicles, Mahindra & Mahindra, Eicher Motors, HDFC Bank, and ICICI Bank.
During intraday trading, the Sensex dropped as much as 1.2 percent to a low of 77,574, while the Nifty fell nearly 1 percent, touching 24,134.80.
Sectoral indices largely ended in the red, with Nifty Auto, Nifty PSU Bank, Nifty Consumer Durables, Nifty Realty, and Nifty IT declining by as much as 2 percent each. In contrast, defensive sectors such as healthcare and pharmaceuticals showed resilience, with Nifty Healthcare and Nifty Pharma gaining up to 2 percent.
Broader markets also weakened. The Nifty 100 fell 0.93 percent, the Nifty 200 declined 0.83 percent, and the Nifty 500 slipped 0.79 percent, reflecting widespread selling pressure.
Mid-cap and small-cap stocks were not spared, with the Nifty Midcap 50 dropping 0.71 percent, while the Nifty Smallcap 100 and Nifty Smallcap 50 both fell around 0.6 percent.
Market volatility increased, with the India VIX rising 1.58 percent to nearly 20.
Analysts said sentiment turned negative due to rising geopolitical tensions, particularly uncertainty surrounding Iran ceasefire talks and ongoing disruptions in the Strait of Hormuz.
Higher crude oil prices, a weakening rupee, and continued institutional selling have contributed to a risk-off environment, they added.
Technical analysts noted that the Nifty faced resistance near the 24,300 level, which has now become a key supply zone in the 24,300–24,400 range. On the downside, the 24,100–24,000 band is seen as immediate support, with a break below this level potentially pushing the index toward 23,800.
Currency experts said the rupee weakened past the 94 mark amid strong demand for the U.S. dollar and a shift toward safe-haven assets, as rising crude prices added pressure.
Global cues remained weak, with Brent crude climbing around 4 percent to $105.86 per barrel amid concerns over supply disruptions linked to the ongoing geopolitical tensions. (Source: IANS)
