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The Indian equity market closed lower on Thursday led by selling in consumer durables, auto and banking shares amid a weak trend in global equities. Sensex closed 420 points lower at 60,613 and Nifty fell 129 points to end at 18,028. Of 30 Sensex stocks, 24 ended in the red.
Top losers
Axis Bank was the top loser on Sensex, slipping 3.54 per cent, followed by Bajaj Finserv (3.04 per cent), Titan (2.99 percent), M&M (2.98 percent), Bajaj Finance (2.34 percent) and IndusInd Bank (1.89 percent).
Top Gainers
HDFC Bank (1.13%), Bharti Airtel (1.09%), Kotak Mahindra Bank (0.83%), Dr Reddy’s (0.23%) and HCL Tech (0.11%) were the top Sensex gainers.
Market cap of BSE-listed firms fell to Rs 281.61 lakh crore today against Rs 284.01 lakh crore in the previous session. Market breadth was negative with 1,269 shares closing higher against 2,197 stocks falling on BSE. 126 shares were unchanged.
Rupak De, senior technical analyst at LKP Securities said, “The benchmark Nifty had started lower and slipped below 18,000 briefly. However, bulls have managed to hold the 18,000 mark on a closing basis. The trend may remain sideways as long as it remains above 18,000. On the higher end, 18,300 will continue to act as crucial resistance.”
Mid cap and small cap indices on BSE lost 261 points and fell 307 points, respectively. Consumer durables, auto and banking shares were the top sectoral losers with their BSE indices falling 570 points, 629 points and 270 points, respectively. Foreign institutional investors (FIIs) remained net buyers in the capital market on Wednesday as they bought shares worth Rs 386.83 crore. Meanwhile, rupee fell 30 paise to close at 81.77 against the US dollar on Thursday.
Previous session
The Indian equity market closed lower on Wednesday led by selling in consumer durables, auto and metal stocks amid a weak trend in global equities. Sensex closed 151.60 points lower at 61,033.55. The 30-stock index witnessed high volatility towards the fag-end and logged an intra-day high of 61,447.23 and a low of 60,905.15. Nifty fell 45.80 points or 0.25 per cent to end at 18,157.
Global Markets
Elsewhere in Asia, bourses in Shanghai, Tokyo, Seoul and Hong Kong closed with significant losses. Stock exchanges in Europe too were trading in the negative territory during the afternoon session. International oil benchmark Brent crude slipped 0.06 per cent to $92.59 per barrel.
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