The benchmark equity indices ended Thursday’s trading session in the negative territory. The NSE Nifty 50 plunged 152.05 points or 0.69% to settle at 21,995.85, while the BSE Sensex dropped 454.69 points or 0.62% to 72,488.99. Bank Nifty index ended lower by 415.35 points or 0.87% to settle at 47,069.45.
The broader indices ended in mixed territory, with fall led by Large-cap and Mid-cap stocks. Media and Metal stocks outperformed among the other sectoral indices while FMCG and Financial Services stocks shed.
Bharti Airtel, Power Grid, Bajaj Auto, Hindalco, and Infosys were the top gainers on the NSE Nifty 50, while the laggards includes Apollo Hospitals, Nestle India, Titan Company, ONGC and Axis Bank.
The Indian Volatility Index (India VIX) closed up by 3.36 %.
“Domestic benchmarks extended losses amid mixed sentiments, emerged from escalating geopolitical tensions in the Middle East, and as hopes of US rate cuts waned. Investors are adapting to prolonged higher US interest rates due to strength in the labour market and progress in inflation so far,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair also added that the broader market has also witnessed profit booking, led by the weakness in heavy weight sectors like banking and FMCG. Meanwhile, investors will closely monitor the Q4 outcomes for further directions.