Markets extended losses into the afternoon session on Thursday, with the Sensex and Nifty trading well below their opening levels by 12.45 pm, as profit-booking after Wednesday’s sharp rally and persistent foreign institutional investor outflows weighed on sentiment.
The BSE Sensex was trading at 76,907.31, down 655.59 points or 0.85 per cent, having opened at 77,319.33 against a previous close of 77,562.90. The NSE Nifty 50 was at 23,848.30, down 149.05 points or 0.62 per cent, after opening at 23,909.05 against a previous close of 23,997.35. Of 4,260 stocks traded on the BSE, 2,487 advanced and 1,590 declined, with 183 unchanged. As many as 94 stocks hit 52-week highs against 20 at 52-week lows, while 238 stocks were locked in upper circuits and 86 in lower circuits.
Hindalco led Nifty gainers, rising 3.34 per cent to ₹983.55 from a previous close of ₹951.80. NTPC gained 2.69 per cent to ₹384.20 from ₹374.15, while defence electronics maker BEL climbed 2.08 per cent to ₹442.10 against a previous close of ₹433.10. Max Healthcare rose 2.07 per cent to ₹960.60 and Bajaj Auto added 2.06 per cent to ₹9,559 from ₹9,366.
On the losing side, Larsen & Toubro fell the most, dropping 2.33 per cent to ₹3,912.60 from ₹4,005.90, with over ₹1,01,313 lakhs worth of shares changing hands. IndiGo shed 2.17 per cent to ₹4,515.40 from ₹4,615.50, while Jio Financial Services dropped 1.88 per cent to ₹242.22 from ₹246.86. Shriram Finance fell 1.79 per cent to ₹1,004.90 from ₹1,023.20, and Kotak Mahindra Bank declined 1.78 per cent to ₹373.40 from ₹380.15.
IT stocks remained under pressure ahead of TCS’s Q4 results, while banking and financial stocks saw broad-based selling. Realty and auto sectors also saw early weakness, according to Ponmudi R, CEO of Enrich Money. “Persistent FII outflows are likely to remain a near-term headwind, while continued buying by DIIs is expected to provide support and help contain downside risks,” he said. Bank Nifty opened around 55,539 and holding the 55,000 mark remains critical to maintaining the bullish structure, with a decisive breakout above 56,000 needed to extend recovery.
In commodities, MCX Crude was trading around ₹9,000, having cooled from highs above ₹10,500 following the ceasefire announcement. US Oil hovered near $97, easing from above $110. MCX Gold was trading in the ₹1,50,500–₹1,51,500 range after a mild gap-down open, while COMEX Gold held within the $4,700–$4,750 support zone. MCX Silver was around ₹2,36,000 amid elevated volatility. The rupee firmed, with USD/INR trading near 92.6, retreating from recent highs of around 94.8, reflecting improving global sentiment post-ceasefire.
Nifty’s immediate resistance remains at 24,000, with a sustained breakout needed to target 24,300–24,400. Support holds at 23,700–23,600. Markets remain in a consolidation phase, with direction likely to be shaped by institutional flows, crude price movement, and developments on the geopolitical front through the remainder of the session.