India's benchmark equity indices pulled back on Thursday after two days of gains, weighed by heavyweights Infosys Ltd. and HDFC Bank Ltd.
The BSE Sensex lost 375.24 points or 0.45% to close at 82,259.24, while the NSE Nifty 50 ended 100.6 points or 0.4% lower at 25,111.45. The 50-stock gauge struggled to take out 25,200 due to call writing at that level on the weekly expiry day. Intraday, the index shed 0.44%.
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Thirty-one stocks declined on the Nifty, with Tech Mahindra Ltd. falling the most. The market capitalisation of the blue-chip gauge shed Rs 71,300 crore. IT stocks emerged as the top sectoral loser, dragged by Tech Mahindra and LTIMindtree.
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Shares of Tech Mahindra, IndusInd Bank Ltd. and Infosys Ltd. were among the biggest laggards. Tata Consumer Products Ltd., Tata Steel Ltd. and Hindalco Industries Ltd. were among the top gainers in the Nifty 50.
In terms of points contribution, Infosys, HDFC Bank and Reliance Industries Ltd. weighed on the Nifty the most.
On the NSE, 10 out of the 15 sectors ended in the red, with the Nifty IT dropping 1.4%. The Nifty Realty gained 1.24%, a fourth consecutive session of advance.
The broader market indices outperformed the benchmarks, as the BSE MidCap jumped 0.3% and the BSE SmallCap gained 0.5%.
The market breadth was skewed in favour of the sellers as 1,985 stocks declined, 1,960 advanced and 144 remained unchanged on the BSE.
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