Stock Market Snaps 3-Day Losing Streak; Sensex Ends Above 80,600 Amid Tariff Concerns

Indian stock markets extended their losing streak for a third straight session on Wednesday, pressured by tepid global trends and persistent profit booking

Stock Market Today

Source : ABPLIVE AI

Indian equity markets ended marginally higher on Thursday, snapping a three-day losing streak amid cautious optimism. The BSE Sensex gained 79.27 points, or 0.10 per cent, to close at 80,623.26, while the NSE Nifty edged up by 21.95 points, or 0.09 per cent, to settle at 24,596.15. Despite lingering concerns over global economic cues and monetary policy uncertainty, select buying in index heavyweights supported the benchmarks in the final trading hours.

Market breadth remained slightly negative, with 1,716 stocks advancing, 1,996 declining, and 129 ending unchanged.

Among the top performers on the Nifty were Hero MotoCorp, Tech Mahindra, Wipro, Eicher Motors, and JSW Steel. On the flip side, Adani Enterprises, Adani Ports, Trent, Tata Motors, and Grasim Industries ended as the biggest laggards.

The BSE Midcap index registered a gain of 0.3 per cent, while the Smallcap index closed flat.

Sector-wise, most indices pared early losses, with IT, media, and pharma stocks leading the rebound, posting gains in the range of 0.5 per cent to 1 per cent.

According to Emkay Global, the direct effect of Trump-era tariffs on the earnings of listed companies is expected to be minimal. "However, a 50 per cent tariff will bring Indian exports to the US to a near-complete halt, with secondorder hits on employment-heavy sectors like textiles and jewelry. We see the government stepping in with fiscal support to these sectors, including protecting banks from potential NPLs," it said.

Market Recap: Previous Trading Session

Indian stock markets extended their losing streak for a third straight session on Wednesday, pressured by tepid global trends and persistent profit booking. The BSE Sensex declined by 166.26 points (0.21 per cent) to close at 80,543.99, while the NSE Nifty ended 80.10 points (0.32 per cent) lower at 24,569.45. Investor sentiment remained cautious following the Reserve Bank of India’s decision to maintain the repo rate at 5.5 per cent, leading to a lacklustre performance across the broader market.

(more to come)