Indian equity benchmarks closed lower on Thursday, ending a three-day winning streak. Weakness in metal and information technology stocks weighed on market sentiment.
Investors largely stayed cautious as they awaited clarity on global macroeconomic signals and foreign institutional investment trends.
At the close, the Sensex fell 503 points, or 0.60 per cent, to finish at 83,313. The Nifty declined 113 points, or 0.52 per cent, to settle at 25,642.
Broader markets also ended in negative territory. The Nifty Midcap 100 slipped 0.28 per cent, while the NSE Smallcap 100 dropped a sharper 1.29 per cent.
The losses reflected sustained pressure on riskier segments amid selective trading.
Most sectoral indices ended in the red. Nifty PSU Bank stood out as the sole gainer, rising 0.38 per cent.
Metal stocks led the decline, with the Nifty Metal index falling 1.02 per cent. IT and auto stocks also weakened, each losing more than 0.50 per cent.
Analysts said trading activity remained largely stock-specific.
Investors, however, showed limited interest in export-focused names and select cyclical stocks. However, profit booking in recent outperformers capped broader market performance.
Market participants noted continued weakness in banking stocks. Bank Nifty traded below its rising trend line and remained under the intraday VWAP zone of 60,150-60,180.
This pattern signalled a fragile short-term structure and the absence of sustained bullish momentum.
In currency markets, the Indian rupee moved within a narrow band against the US dollar. It traded at 90.32 per dollar, reflecting balanced demand and supply amid stable global conditions.
Investors also tracked geopolitical developments closely. Market participants awaited further updates on negotiations between the United States and Iran, which could influence global risk appetite.
The Nifty 50 remained stuck in a tight consolidation range. The index failed repeatedly to hold gains or deepen losses.
After an early decline, it found support in the 25,580-25,600 zone. This area acted as a reliable demand base throughout the session, analysts said.
They further added that the near-term outlook remains sideways to mildly weak. The index is likely to fluctuate between 25,580 and 25,750.
Strong volumes must support a decisive breakout or breakdown to establish the next clear trend.
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