Stock Market Highlights: Nifty, Sensex Resume Losing Streak
Reliance Industries and Infosys dragged the Nifty the most.
The benchmark equity indices closed lower on Thursday after a day's respite amid volatility in the domestic stock markets.
The NSE Nifty 50 closed 203.75 points, or 0.82% lower at 24,609.7 and the BSE Sensex ended 644.44 points, or 0.79% lower at 80.951.99. During the day, the Nifty 50 fell 1.41% to 24,462.4, while the Sensex declined 1.36% to 80,489.92.
"The equity market experienced a downturn due to a surge in bond yields, which dented the market sentiment," said Aditya Gaggar, director of Progressive Share Brokers. "Following weak global cues, the Index began the trade on a tepid note and continued to decline, falling below the 24,500 mark."
"However, a recovery in the final session helped limit the losses," Gaggar added.
Shares of IndusInd Bank Ltd., JSW Steel Ltd., Bajaj Auto Ltd. and Bharti Airtel Ltd. were the top gainers.
Oil & Natural Gas Corp. and Mahindra & Mahindra Ltd. were among the biggest laggards.
In terms of points contribution, Bharti Airtel, IndusInd Bank and JSW Steel Ltd. the gains in the index.
Reliance Industries and Infosys dragged the index the most.
On the NSE, two sectoral indices out of 15 ended with gains. Nifty Defence and Media were the only gainers, while FMCG and IT were the top laggards.
In the broader market, the BSE MidCap and SmallCap outperformed the Sensex as the MidCap declined 0.34% and SmallCap gained 0.13%, respectively.
The market breadth was skewed in the favour of sellers, as 1,690 stocks advanced, 2,233 declined and 153 remained unchanged on the BSE.
