Benchmark indices ended marginally lower on Thursday after a volatile session, as profit-booking at higher levels and lingering uncertainty around US–Iran talks weighed on sentiment.
Vinod Nair, Head of Research at Geojit Investments, said the market ended with marginal losses on weekly expiry amid volatility and profit-booking. He noted that investors remain cautious ahead of further clarity on US–Iran negotiations, while a higher-than-expected WPI inflation print weighed on auto and consumption stocks.
The BSE Sensex declined 122.56 points or 0.16 per cent to close at 77,988.68 after hitting an intraday high of 78,730.32, while the NSE Nifty 50 slipped 34.55 points or 0.14 per cent to settle at 24,196.75. after touching 24,400.95.
Volatility index remained stable around 18.
Markets opened on a positive note, supported by easing geopolitical concerns, firm global cues and optimism around potential progress in US–Iran negotiations. However, indices failed to hold gains and slipped into negative territory amid profit-booking following the recent rally and rising oil prices, which reflected scepticism over the likelihood of a lasting peace deal. Ponmudi R, CEO of Enrich Money, emphasised that volatility is likely to persist, with the market direction closely tied to developments in West Asia.
The broader market continued to outperform the benchmarks, with the Nifty midcap 100 and Nifty smallcap 100 indices gaining 0.63 per cent and 0.89 per cent, respectively.
Given the current technical structure, midcaps and smallcaps are likely to continue their outperformance over the short term, Sudeep Shah, Head – Technical and Derivatives Research at SBI Securities, said.
Sectorally, metals emerged as the top performers, supported by firm global commodity prices and a softer dollar.
IT stocks also showed resilience, aided by improving visibility on AI-led demand. Investors also eyed Wipro Q4 results. In contrast, banking, auto and consumption stocks came under pressure, while heavyweight stocks capped overall market gains. Bank Nifty has underperformed the frontline indices for the second consecutive trading session.
Adani Enterprises & Hindalco lead Nifty 50 pack
Among Nifty 50 constituents, Adani Enterprises, Hindalco, Trent, Eternal and Adani Ports emerged as top gainers, while HDFC Bank, ONGC, Titan, M&M and Bharti Airtel were major laggards.
Market experts added that market breadth remained strong as 331 stocks in the Nifty 500 universe ended higher, indicating sustained participation beyond large caps.
Of all the 4,494 stocks that were traded on the BSE, 2,808 advanced, 1,549 declined and 147 remained unchanged. About 163 stocks scaled to a 52-week high, while 22 fell to a 52-week low. In addition, 4 scrips hit the upper circuit and 9 hit the lower circuit.
Metal stocks witnessed strong buying interest
GMDC, Hindustan Copper, NALCO, Hindalco Industries and Vedanta witnessed strong buying interest, aiding the sectoral rally, according to Hariprasad K, SEBI-registered research analyst and founder of Livelong Wealth. However, selling in heavyweights such as HDFC Bank, Reliance Industries and ONGC limited upside.
Midcap & smallcap movers
In the midcap segment, BHEL, PB Fintech, Radico Khaitan, Container Corporation of India and Swiggy advanced up to 6 per cent, whereas Supreme Industries, Astral, GMR Airports, Hero MotoCorp and Groww declined 2–4 per cent.
Among smallcap stocks, GMDC, Firstsource Solutions, Aptus Value Housing Finance, Swan Energy and Crompton Greaves Consumer Electricals surged 5–20 per cent, while Poonawalla Fincorp, Piramal Finance, JSW Cement, Meesho and Angel One slipped 1–2 per cent.
Asian markets ended significantly higher.
Brent crude oil prices remained elevated at around $96 per barrel. Precious metals such as gold and silver also posted significant gains. On the currency front, the rupee appreciated 0.2 per cent to 93.2 against the US dollar, supported by optimism around easing geopolitical tensions and softer crude oil prices.
In the previous trading session, Sensex settled 1,263.67 points or 1.64 per cent higher at 78,111.24, and Nifty 50 climbed 388.65 points or 1.63 per cent to 24,231.30. US markets edged higher on Wednesday.
FIIs bought equities worth ₹666.15 crore, as per the exchange data.