Markets Close Lower For Second Day; Sensex Slides 852 Points

Indian stock markets closed firmly in the red on Thursday, extending losses for a second straight day as geopolitical worries and rising oil prices unsettled investors.

The BSE Sensex ended at 77,664, down 852 points, while the Nifty 50 slipped to 24,173, losing 205 points. Broad-based selling across key sectors drove the downturn.

Shares of major companies such as Tech Mahindra, Infosys, Mahindra & Mahindra, Eicher Motors, HDFC Bank and ICICI Bank were among the biggest drags on the indices. Auto, banking, IT and realty stocks remained under pressure throughout the session.

Markets remained weak during intraday trade as well, with the Sensex falling to around 77,574 and the Nifty dropping close to 24,134 at one point.

Sectoral performance showed sharp declines in auto, PSU banking, consumer durables, real estate and IT indices, each falling up to 2 per cent. In contrast, defensive sectors such as healthcare and pharmaceuticals recorded gains.

The weakness extended beyond large-cap stocks. Broader indices, including the Nifty 100, Nifty 200 and Nifty 500, ended lower, while mid-cap and small-cap stocks also saw declines.

Rising volatility levels reflected investor caution, with the India VIX climbing to nearly 20.

Analysts linked the fall largely to uncertainty in West Asia. They pointed in particular to developments involving Iran and disruptions near the Strait of Hormuz, a key oil supply route.

Brent crude prices climbed about 4 per cent to $105.86 per barrel, increasing concerns over inflation and external balances.

At the same time, the rupee weakened beyond the 94 mark against the US dollar. This reflected a shift towards safer assets.

Market participants also pointed to continued selling by institutional investors as an additional factor weighing on sentiment.

On the technical front, analysts said the Nifty faces resistance in the 24,300–24,400 range. It finds support between 24,100 and 24,000.

A break below this zone could lead to further downside towards lower levels.

Also Read: Markets Open Lower As Global Signals And Foreign Selling Weigh On Sentiment