Indian equities retreated on Thursday as benchmark indices tracked weakness across global markets, with selling pressure in banking, IT, and energy counters weighing on sentiment.
The BSE Sensex dropped more than 200 points, settling near 81,550, while the NSE Nifty 50 slipped around 70 points to trade close to 25,000. Broader indices also remained under pressure, with midcaps and smallcaps posting modest declines after recent outperformance.
Traders pointed to cautious global cues, with investors reassessing the trajectory of the US Federal Reserve’s rate cuts and monitoring geopolitical risks. Foreign institutional flows turned mixed after a strong run earlier in the month, while domestic institutional investors provided limited support.
Analysts said the pullback reflects short-term profit-taking following a strong rally that had pushed benchmarks to record highs earlier this week. “Markets are in a consolidation phase, and given elevated valuations, we may see bouts of volatility,” a Mumbai-based fund manager told Finance 360.
Key sectors remained mixed, with banking and IT stocks facing selling pressure, while selective auto and FMCG names provided support.
Market watchers are now looking ahead to September derivatives expiry, corporate earnings guidance, and upcoming macroeconomic data, including India’s September inflation prints and Q2 GDP estimates, for clearer direction.
Sensex, Nifty Slip On Weak Global Cues; Banking And IT Stocks Drag
Anand Rai
Indian equities retreated on Thursday as benchmark indices tracked weakness across global markets, with selling pressure in banking, IT, and energy counters weighing on sentiment.
The BSE Sensex dropped more than 200 points, settling near 81,550, while the NSE Nifty 50 slipped around 70 points to trade close to 25,000. Broader indices also remained under pressure, with midcaps and smallcaps posting modest declines after recent outperformance.
Traders pointed to cautious global cues, with investors reassessing the trajectory of the US Federal Reserve’s rate cuts and monitoring geopolitical risks. Foreign institutional flows turned mixed after a strong run earlier in the month, while domestic institutional investors provided limited support.
Analysts said the pullback reflects short-term profit-taking following a strong rally that had pushed benchmarks to record highs earlier this week. “Markets are in a consolidation phase, and given elevated valuations, we may see bouts of volatility,” a Mumbai-based fund manager told Finance 360.
Key sectors remained mixed, with banking and IT stocks facing selling pressure, while selective auto and FMCG names provided support.
Market watchers are now looking ahead to September derivatives expiry, corporate earnings guidance, and upcoming macroeconomic data, including India’s September inflation prints and Q2 GDP estimates, for clearer direction.
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