Indian Stock Market Ends Lower On Profit Booking After 7-Day Bull Rally

New Delhi: The Indian inventory marketplace ended decrease on Thursday, as traders booked income after a powerful seven-day bull rally. Sentiments have been additionally hit via the Pahalgam terror assault, along side the expiry of the April derivatives contracts at the National Stock Exchange (NSE).

The Sensex opened moderately decrease at 80,058 and in short touched a prime of 80,174 in early business. However, promoting force dragged the index down during the day. It fell to an intra-day low of 79,725 ahead of settling at 79,801, down 315 issues. With this, the Sensex snapped its seven-day successful streak, throughout which it had jumped 6,269 issues.

The Nifty additionally noticed a equivalent pattern. It traded inside of a slim vary of 131 issues, shifting between a prime of 24,348 and a low of 24,216. The Nifty after all closed at 24,247, down 82 issues. Despite Thursday’s fall, the Nifty controlled to publish a achieve of 656 issues, or 2.8 consistent with cent, within the April futures and choices collection.

“Markets remained subdued, buying and selling inside of a slim vary at the per thirty days expiry day of the April derivatives contracts, and ended moderately decrease,” stated Ajit Mishra-SVP, Research, Religare Broking Ltd. He added that this section of consolidation within the index is in keeping with expectancies and would possibly proceed within the coming classes.

“Therefore, we recommend maintaining a focus on stock selection and using market dips as buying opportunities,” Mishra discussed. Among the highest losers, Hindustan Unilever slipped 4 consistent with cent after it reported a slight decline in its March quarter web cash in.

Bharti Airtel, ICICI Bank and Eternal (Zomato) additionally ended 1-2 consistent with cent decrease. On the opposite hand, IndusInd Bank was once the highest gainer, emerging over 3 consistent with cent. UltraTech Cement, Tata Motors and Titan additionally ended within the inexperienced.

In the wider marketplace, the BSE MidCap index was once down 0.2 consistent with cent, whilst the SmallCap index closed flat. Sector-wise, FMCG shares got here underneath force, with the BSE FMCG index falling 0.8 consistent with cent. Realty shares have been additionally vulnerable, dragging the sectoral index down via 1.4 consistent with cent.

Banking shares noticed gentle promoting, because the BSE Bankex misplaced 0.4 consistent with cent. However, healthcare shares noticed purchasing pastime and the index ended 0.6 consistent with cent upper. Cement shares have been a number of the best performers in Thursday’s business.

Market mavens imagine some profit-taking was once anticipated after the hot robust rally, and geopolitical considerations added to the anxiousness. “Investors will now focus on upcoming earnings and global cues for further direction,” analysts famous.