The Indian stock markets ended their winning streak and settled the trading session today in red. After recording gains for six consecutive sessions, both benchmarks, Sensex and Nifty, ended in the negative territory today. The BSE Sensex breached 82K and crashed nearly 700 points to close the day just above 81,300, while the NSE Nifty50 settled under 24,900, falling more than 200 points.
On the 30-share Sensex, M&M, Maruti, BEL, Airtel, and Titan remained among the gainers. Meanwhile, Asian Paints, UltraTech Cement, Tata Steel, ITC, and HCL Tech ended among the laggards.
In the broader markets, majority of the indices bled across the board. The Nifty Bank tanked more than 1 per cent. Sectorally, the Metal and Private Bank indices crashed 1.25 per cent and 1.06 per cent respectively. On the other hand, the Media index ended 0.95 per cent higher.
Notably, markets opened on a muted note today as weakness in IT and banking counters dragged the indices. The Sensex declined 262.05 points in early trade to 81,738.66, while the Nifty dropped 81.55 points to 25,002.20.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted that “headwinds from Trump tariffs will weigh on markets, constraining the rally of the last six days.” Investors are also awaiting comments from US Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium for clues on the interest rate trajectory.
The fall comes after a robust six-day rally, during which the Sensex surged 1,765 points or 2.14 per cent, and the Nifty advanced 596 points or 2.4 per cent.
Foreign Institutional Investors (FIIs) were net buyers on Thursday, purchasing equities worth Rs 1,246.51 crore, as per exchange data. In the previous trading session, the Sensex added 142.87 points or 0.17 per cent to finish at 82K, while the Nifty closed 33.20 points higher at 25,083.75.
