Market dragged lower amid broad sell-off in global equities

Indian share market was dragged lower by over three-fourths of a percent amid a broad selloff in global equities.

Sensex opened at 81,323.05 against its previous close of 81,596.63 and dropped 1,107 points, or 1.4%, to an intraday low of 80,489.92. Nifty 50 opened at 24,733.95 against its previous close of 24,813.45 and slipped 1.4% to an intraday low level of 24,462.40.

Advertisement

At close, the Sensex settled 645 points, or 0.79%, down at 80,951.99, while the Nifty 50 closed 204 points, or 0.82%, lower at 24,609.70.

The mid and small-cap segments outperformed with the BSE Midcap index fell 0.33%, while the BSE Smallcap index rose 0.17%. The overall market capitalisation of BSE-listed firms dropped to nearly ₹439 lakh crore from ₹441 lakh crore in the previous session.

Among the sectors, barring Nifty Media, which was up by 1.11%, all other sectoral indices ended with losses.

Nifty Auto, FMCG, IT, Consumer Durables and Oil & Gas declined over a per cent each.

Nifty Bank fell 0.24%, PSU Bank and Private Bank indices declined 0.58% and 0.22%, respectively, while the Nifty Financial Services index dropped 0.43%.

IndusInd Bank emerged as the top gainer on the benchmark indices on Thursday despite posting a sharp net loss for the fourth quarter of the financial year 2024-25.

In the Nifty50, the top gainers were IndusInd Bank (1.76%), JSW Steel (0.71%), and Bajaj Auto (0.65%).

While ONGC fell 1.98%, Mahindra & Mahindra declined 2.42%, and Hindalco Industries dropped 2.03%. As many as 39 stocks ended as losers in the index.

Shares of InterGlobe Aviation were higher by nearly one percent in a weak market, supported by a 62% on-year growth in net profit for the March quarter.

Shares of Tech Mahindra, Persistent Systems, HCL Tech, and Mphasis declined over 2% intraday amid concerns over a possible rise in the US federal deficit.

Major Asian indices followed suit, with Japan’s Nikkei 225 down 0.84%, Hong Kong’s Hang Seng lower by 1.19%, and China’s CSI 300 down 0.06%.