Share Markets Break Their 4-Day Streak, Sensex Closes Under 81,800, Nifty Tests 25K
The Sensex climbed 63 points, or 0.08 per cent, to 81,990, while the Nifty added 16 points, or 0.06 per cent, to trade at 25,124 in early deals.
Indian markets broke away from their 4-day winning streak on Wednesday and settled the session in red. The BSE Sensex ended trading below 81,800, falling more than 150 points, while the NSE Nifty50 closed the day near 25k, taking a hit of 62 points.
On the 30-share Sensex, Titan, Infosys, TCS, HCL Tech, and Tech M settled among the gainers. Meanwhile, the laggards included Tata Motors, M&M, BEL, UltraTech Cement, and PowerGrid.
In the broader markets, the Nifty Midcap Select tanked 0.80 per cent. Sectorally, the Realty index crashed 1.83 per cent, followed by the Media index which bled 1.71 per cent. On the other hand, the IT index climbed 1.51 per cent.
Notably, both benchmarks rang the opening bell today morning on a flat note, before reversing course and rallying ahead in later trade. The Sensex climbed 63 points, or 0.08 per cent, to 81,990, while the Nifty added 16 points, or 0.06 per cent, to trade at 25,124 in early deals.
Vinod Nair, Head of Research at Geojit Financial Services, said, “Key indices witnessed a volatile session, tempered by profit booking after a sharp rally. Investor caution dominated ahead of the Q2 earnings season, as market participants reassessed valuations and growth prospects.”
Foreign Institutional Investors (FIIs) turned net buyers on Tuesday, purchasing equities worth Rs 1,440.66 crore, according to exchange data, a sign of improving sentiment following recent volatility.
Across Asia, market performance was mixed. Japan’s Nikkei 225 index and Hong Kong’s Hang Seng index ended lower, while markets in China and South Korea remained shut for holidays. European markets traded higher in early deals, even as Wall Street closed lower on Tuesday amid renewed concerns over rate-cut timing.
Meanwhile, global oil prices continued to rise, with Brent crude climbing 1.16 per cent to $66.21 per barrel.
Market experts said investors turned cautious amid global uncertainty and profit booking after recent gains. "The indices witnessed a volatile session, tempered by profit booking after a sharp rally. Investor caution dominated ahead of the Q2 earnings season, as market participants reassessed valuations and growth prospects,” experts added.
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