Indian equity markets closed lower on Thursday, witnessing sharp declines across major indices amid weak global cues and sector-wide selling pressure. The BSE Sensex dropped more than 500 points during the session, while the NSE Nifty 50 failed to hold the 24500 level and settled marginally below it by the end of trade.
Market analysts attributed the fall to a combination of factors, including weak global market sentiment, mixed corporate earnings for the quarter, and persistent profit booking by investors. Additionally, concerns about inflationary pressures and uncertainty over interest rate moves by global central banks also weighed on investor mood.
At closing, the BSE Sensex stood at approximately 81350 points, down by 523 points or 0.64 percent. The Nifty 50 closed at around 24470, losing close to 157 points. Broader markets mirrored the trend with the Nifty Midcap and Smallcap indices also registering losses.
Selling pressure was seen across sectors, particularly in IT, banking, auto, and metal stocks. Major laggards in the Sensex included Infosys, HDFC Bank, Tata Motors, and ICICI Bank. On the other hand, select FMCG and pharma stocks such as Hindustan Unilever and Dr Reddy’s Labs offered limited support.
Technical experts noted that the Nifty 50 is facing stiff resistance near the 24700 zone, and a sustained break above that will be required to regain bullish momentum. Until then, the index is likely to remain range-bound with downward bias.
From a global standpoint, markets in the United States and Europe opened on a subdued note, largely reacting to fresh economic data and the outlook on interest rate decisions by the US Federal Reserve. Asian peers including Japan and South Korea also posted losses, adding to the pressure on domestic equities.
On the macroeconomic front, domestic investors are awaiting key indicators including the monthly GST collections, manufacturing PMI data, and updates on monsoon progress, all of which are expected to influence short-term trends.
Despite today’s fall, market experts maintain that the medium- to long-term outlook for Indian equities remains positive, supported by strong fundamentals and robust retail participation. However, near-term caution is advised due to global headwinds and sectoral rotations.
Foreign Institutional Investors FIIs were net sellers in today’s session, while Domestic Institutional Investors DIIs offered partial buying support. The volatility index India VIX rose slightly, indicating rising uncertainty among traders.
Investors are advised to monitor upcoming earnings announcements and global macroeconomic data closely, as they could drive further market movement. Experts suggest maintaining a diversified portfolio and avoiding aggressive trading until clearer signals emerge.
As the week progresses, markets are expected to react to any central bank commentary and global economic developments. Traders should also be mindful of technical support levels, with the Nifty 50’s immediate support seen near 24300.
