Sensex up nearly 114 pts, Nifty ends below 24,400
Benchmark indices ended mixed on Thursday, with the Sensex rising nearly 114 points and the Nifty sliding over 40 points, as elevated crude prices and geopolitical uncertainty made investors cautious.
Fag-end buying helped the BSE Sensex to end the session in positive territory. The 30-share index settled 113.61 points, or 0.15 per cent, higher at 78,079.96. During the day, the benchmark hit a high of 78,119.39 and a low of 77,665.89, gyrating 453.5 points.
The 50-share NSE Nifty was marginally down 40.10 points, or 0.16 per cent, to end at 24,395.85, registering its third day of decline.
From the Sensex pack, InterGlobe Aviation, NTPC, Bharat Electronics, Larsen & Toubro, Hindustan Unilever and Eternal were among the winners.
ICICI Bank, Titan, Reliance Industries, UltraTech Cement and Infosys were among the major laggards.
Elevated crude oil prices remain a key overhang, with geopolitical uncertainty in the Middle East preventing a stronger risk-on move, Vinod Nair, Head of Research, Geojit Investments Limited, said. Brent crude, the global oil benchmark, declined 1.44 per cent to $87.70 per barrel.
“Investor sentiment remained subdued as Brent crude hovered around the $87-89 per barrel range, with persistent concerns over the Middle East and key shipping routes keeping energy prices elevated,” Ajit Mishra, SVP — Research, Religare Broking, said.
“The market continues to exhibit resilience but lacks a strong directional trigger. While expectations of a less restrictive US monetary policy have improved the global investment backdrop, elevated crude prices and geopolitical uncertainty are keeping domestic investors cautious,” Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a Research Analyst firm, said.
Until there is greater clarity on energy markets, Indian equities are likely to remain range-bound, with corporate earnings and stock-specific developments continuing to drive market performance, he added.
The BSE MidCap Select index climbed 0.53 per cent, and the SmallCap Select index was up 0.35 per cent.
Among sectoral indices, Realty jumped 1.46 per cent, FMCG 0.97 per cent, Services 0.89 per cent, Industrials 0.83 per cent, Focused IT 0.65 per cent, IT 0.49 per cent and Utilities 0.31 per cent.
Metal dropped 0.97 per cent, Commodities 0.51 per cent, Insurance 0.50 per cent, Top 10 Banks 0.24 per cent, Energy 0.23 per cent and Private Banks index 0.22 per cent.
In Asian markets, South Korea’s Kospi climbed 3.56 per cent, and Japan’s Nikkei 225 ended 1.16 per cent higher, while Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index settled lower.
Most of the European markets were trading in positive territory.
US markets ended mostly higher on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,002.50 crore on Wednesday, according to exchange data.
On Wednesday, the Sensex declined 187.90 points, or 0.24 per cent, to settle at 77,966.35. The Nifty dipped 35.75 points, or 0.15 per cent, to end at 24,435.95.
