Indian stock markets ended Thursday in negative territory, snapping a three-session winning streak. The BSE Sensex shed 503.76 points or 0.60 percent to settle at 83,313.93, while the Nifty 50 declined 133.20 points or 0.52 percent to 25,642.80.
Defense stocks led the downturn, with Hindustan Aeronautics (HAL) dropping 4.31 percent, Data Patterns falling 3.63 percent, and Cyient DLM declining 3.34 percent among the top losers. Sectoral indices reflected the weakness: Nifty India Defence fell 2.10 percent, Nifty Metal 1.02 percent, Nifty Consumer Durables 0.82 percent, and both Nifty India Manufacturing and Nifty Consumption indices lost 0.59 percent each.
On a positive note, Nifty PSU Bank gained 0.38 percent and Nifty Healthcare rose 0.14 percent. Broader markets also weakened, with Nifty Midcap 100 down 0.28 percent at 59,517.10 and Nifty Smallcap 100 dropping 1.20 percent to 16,983.90.
In the broader market, BSE saw 1,737 stocks advance, 2,447 decline, and 158 remain unchanged. Meanwhile, the rupee strengthened against the dollar, trading at 90.30, up 0.22 percent. Analysts attribute this to a weakening dollar, falling commodity prices, and optimism from the recent US-India trade deal.
LKP Securities’ Jatin Trivedi noted that the rupee’s trajectory will hinge on the RBI’s monetary policy announcement scheduled for Friday. Investors are closely watching for cues on interest rates amid global uncertainties. This pullback comes after markets hit fresh highs earlier in the week, driven by strong domestic earnings and foreign inflows.
Market participants remain cautiously optimistic, with focus shifting to upcoming policy decisions and global trade developments. The session’s volatility underscores the delicate balance between domestic resilience and external pressures.