In a volatile trading session, the Sensex ended 139 points lower, closing at 64,139. The Nifty also experienced a decline, slipping below the 24,450 mark to close at 24,438. The markets fluctuated throughout the day, driven by mixed global cues and profit-booking in select sectors.
Mahindra & Mahindra (M&M) and Sun Pharmaceutical Industries were among the top losers, each shedding around 3% by the end of the day. M&M faced selling pressure due to concerns over its near-term growth outlook in the auto sector, while Sun Pharma saw a dip following profit-booking in the pharma space after recent gains.
Despite the broader market showing some resilience, key sectors such as auto, pharma, and banking contributed to the downward trend. Other stocks like ITC, Larsen & Toubro, and HDFC Bank also dragged the indices lower, as investors booked profits amid uncertainty in global markets.
On the positive side, gains were observed in select IT and FMCG stocks, which helped cushion the market's overall decline. The broader market saw a mixed trend, with mid-cap and small-cap indices showing limited movement, neither contributing significantly to the market's gains nor losses.
Market analysts attribute today’s volatility to caution ahead of key global events, including economic data from the US and potential interest rate moves from central banks. With inflationary concerns still lingering, the market is expected to remain volatile in the near term, as investors adopt a cautious approach.
Looking forward, traders are likely to keep an eye on corporate earnings, macroeconomic data, and global cues for any signs of stability or further market movement. As the market faces both domestic and global headwinds, investors are advised to maintain a balanced portfolio and exercise caution in high-risk sectors.
