Benchmark indices Sensex and Nifty ended the session in the red amid volatile crude prices and persistent Foreign Institutional Investor (FII) outflows.
The 30-share BSE Sensex closed 242.65 points, or 0.33 per cent, lower at 72,529.07. During the day, the benchmark hit a high of 72,684.90 and a low of 72,064.00, gyrating 620.9 points. Similarly, the 50-share NSE Nifty fell 64.05 points or 0.28 per cent to close at 22,716.20. However, the broader market ended the session mixed. While the BSE MidCap Select Index dropped 175.42 points or 0.99 per cent, the BSE SmallCap Select Index added 22.39 points or 0.25 per cent.
Among sectoral indices, Nifty IT was the biggest loser, down 1.48 per cent, followed by Nifty Auto, down 1.33 per cent. Meanwhile, Nifty Metal gained 0.78 per cent.
“The market’s near-term bias remains weak. Today’s decline appeared less driven by a fresh domestic trigger than by continued digestion of the previous session’s sharp sell-off. The breadth of the decline suggests that sentiment remains fragile, while a meaningful stabilisation is likely to require greater clarity on crude oil prices and more consistent foreign investor flows,” said Ponmudi R, CEO of Enrich Money.
Rupee settles flat
Meanwhile, the Indian rupee traded largely flat near 95.97, up about 0.10 per cent, as crude prices saw some profit booking after recent highs. However, rising bond yields and a stronger Dollar Index continue to keep pressure on the currency.
Top gainers and losers
Among the 30-Sensex firms, Adani Ports, SunPharma, Tata Steel, Kotak Bank, and NTPC were the major gainers, with Adani Ports gaining 4.39 per cent today. On the flip side, Titan, HCL Tech, TCS, UltraTech Cement and Hindustan Unilever were among the laggards. Titan shares fell 2.72 per cent today.
Today, shares of 12 out of 30 Sensex companies closed in the green, while the remaining 18 closed in the red. Meanwhile, 17 of 50 Nifty 50 companies also closed in the green, while the other 32 closed in the red and one remained unchanged.