The Indian equity markets concluded lower on Thursday, ending a three-day winning streak. The Sensex dropped by 503 points, or 0.60%, settling at 83,313, while the Nifty fell by 113 points, or 0.52%, closing at 25,642. The broader markets also saw losses, with the Nifty Midcap 100 index down by 0.28% and the NSE Smallcap 100 declining by 1.29%.
Most sectoral indices traded in the red, with Nifty PSU bank being the sole gainer, up by 0.38%. Conversely, metals experienced the most significant decline, dropping by 1.02%, while Nifty IT and auto sectors lost over 0.50%. Analysts noted that trading activity was selective, focusing on export-oriented and select cyclical stocks, offset by profit-taking in recent outperformers, resulting in subdued benchmark performance.
Market watchers highlighted that the Bank Nifty continued to trade below the rising trend line and the intraday VWAP zone around 60,150–60,180, indicating a weak short-term structure and a lack of bullish follow-through. The Indian rupee traded against the US dollar at 90.32 per USD on Thursday, reflecting balanced demand-supply dynamics amid steady global cues. Additionally, market participants are awaiting further clarity on the progress of US–Iran negotiations.
Nifty 50 remained in a tight consolidation phase, facing repeated failures to sustain moves on either side. Despite an early dip, the index found support in the 25,580–25,600 zone, which consistently acted as a demand area throughout the session. Analysts suggested that the short-term bias remains sideways to mildly weak, with the index expected to fluctuate between 25,580 and 25,750 unless a decisive breakout or breakdown occurs with volume.
