Sensex, Nifty End Lower As West Asia Tensions Weigh On Markets

Indian benchmark equity indices ended marginally lower on Thursday amid cautious investor sentiment driven by ongoing geopolitical tensions in West Asia.

The BSE Sensex fell 135.03 points, or 0.18 per cent, to close at 75,183.36, while the NIFTY 50 slipped 4.3 points, or 0.02 per cent, to settle at 23,654.7.

Analysts said the 23,700-23,800 range continues to act as the immediate resistance zone for the Nifty, with selling pressure likely to remain elevated. They added that 24,000 remains the key psychological resistance level and a strong Call OI wall aligned with the previous swing high.

Shares of Bajaj Finance, Infosys, and Tech Mahindra emerged among the top laggards on the Sensex. On the Nifty, Bajaj Finance, Tech Mahindra, and Hindustan Unilever were among the major losers.

Sectorally, the Nifty FMCG, Nifty IT, and Nifty Financial Services indices recorded the steepest declines during the session.

In the broader market, the Nifty MidCap index ended 0.04 per cent lower, while the Nifty SmallCap index outperformed and closed 0.63 per cent higher.

Realty and cement stocks emerged as bright spots during the session.

The Nifty Cement index surged more than 2 per cent by the close, making it one of the strongest-performing sectoral indices of the day.

Analysts said the market’s near-term direction will depend on the RBI’s June policy decision, progress in US-Iran talks, and the stability of growth indicators and the rupee.

The rupee recovered sharply towards 96.15, gaining nearly 65 paise or 0.68 per cent due to short-covering after touching near the 97 level in the previous session.

The volatility index, INDIAVIX, eased 3.5 per cent to 17.80, offering some relief to investors.

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