India's equity markets finished in negative territory on Thursday, pressured by declines across specific cyclical sectors and broader selling on both national exchanges.
At the close of trade on the National Stock Exchange, the Nifty 50 was down 0.84%. The BSE Sensex 30 fell 1.09% by the end of the session. Sector-level weakness in Auto, Real Estate and Consumer Durables was cited as a primary drag on market performance.
Winners and losers
Among individual Nifty components, Dr Reddy's Laboratories Ltd (REDY) led gains, finishing up 8.96% or 109.00 points to close at 1,326.00. Cipla Ltd. (CIPL) rose 5.72% or 70.70 points to end at 1,307.00, while Jio Financial Services Ltd (JIOF) advanced 4.23% or 10.09 points to finish at 248.60.
On the downside, Trent Ltd (TREN) was the weakest Nifty stock, sliding 4.30% or 190.50 points to close at 4,244.00. Shriram Finance Ltd. (SHMF) declined 3.31% or 34.55 points to end at 1,010.00, and Tech Mahindra Ltd (TEML) fell 3.12% or 45.70 points to trade at 1,416.90 at the close.
Turning to the BSE Sensex 30, Adani Port and Special Economic Zone Ltd (APSE) was among the better performers, gaining 1.23% to reach 1,608.00. Larsen & Toubro Ltd (LART) added 0.82% to settle at 4,055.00 and Bharti Airtel Ltd (BRTI) gained 0.69% to close at 1,842.30.
On the BSE losers list, Tech Mahindra Ltd (TEML) fell 3.13% to 1,417.00, Bajaj Finserv Ltd (BJFS) dropped 2.93% to 1,787.00 and Infosys Ltd (INFY) declined 2.87% to 1,232.00 at the close.
Market breadth and records
Market breadth on the NSE showed more falling stocks than advancing ones, with 1,535 issues down, 990 advancing and 41 unchanged. On the Bombay Stock Exchange, 2,319 stocks fell, 1,701 advanced and 157 ended unchanged.
Adani Port and Special Economic Zone Ltd (APSE) also reached an all-time high in the session, rising 1.23% or 19.55 to close at 1,608.00.
Volatility, commodities and currencies
The India VIX, which gauges implied volatility for Nifty 50 options, climbed 1.53% to 18.58, signaling a modest rise in expected near-term market turbulence.
In commodities, Gold Futures for June delivery moved lower, down 1.07% or 50.84 to $4,702.16 a troy ounce. Crude oil for June delivery rose 1.40% or 1.30 to $94.26 a barrel, while the June Brent contract gained 1.31% or 1.34 to trade at $103.25 a barrel.
On the currency front, USD/INR was up 0.34% at 94.11, and EUR/INR rose 0.15% to 109.97. The US Dollar Index Futures advanced 0.18% to 98.59.
The session presented a split picture: selective gains among pharmaceutical and some financial stocks contrasted with broader weakness among consumer-facing and capital goods sectors. Rising implied volatility and diverging commodity moves provided additional context to the market's downward bias at the close.