Domestic equity indices snapped four sessions of gains on Thursday as investors trimmed their exposure to IT, banking and energy stocks amid a negative trend at global markets.
The 30-share BSE Sensex tumbled 148.82 points or 0.37 per cent to finish at 40,558.49.
Similarly, the broader NSE Nifty slipped 41.20 points or 0.35 per cent to close at 11,896.45.
IndusInd Bank was the top laggard in the Sensex pack, declining 3.10 per cent, followed by ICICI Bank, Infosys, Titan, HDFC Bank, Nestle India, Maruti and Tech Mahindra.
On the other hand, NTPC, Bharti Airtel, Bajaj Finance, Axis Bank and Tata Steel were among the major gainers, jumping up to 3.10 per cent.
Global equities stayed on the backfoot as the rising COVID-19 cases and protracted US stimulus negotiations hit investor sentiment.
“Domestic equities finished lower after four consecutive days of gains amid mixed global cues. Barring metals, FMCG and realty, most of sectoral indices ended in red. Among stocks, Tata Motors, Bharti Airtel and NTPC were among top gainers, while Hero MotoCorp, IndusInd Bank and Infosys were top losers.
“Market is expected to consolidate for sometime at these levels. While 2Q earnings have so far been decent enough, investors might be keenly watching heavyweights results in coming days and management commentaries. Additionally, progress on ongoing talks for fiscal stimulus in the US will be crucial a factor for global markets, including India,” said Arjun Yash Mahajan, Head — Institutional Business at Reliance Securities.