Mumbai, September 3 (TNA) Indian benchmark indices ended lower on Thursday, with the BSE Sensex dropping 417.49 points, or 0.55 per cent, to settle at 76,152.86, extending the market’s losing streak to a fourth consecutive session amid concerns over surging crude oil prices, geopolitical tensions and a sharp sell-off in information technology stocks. The 50-share NSE Nifty slipped 41 points, or 0.17 per cent, to close at 23,873.45, after both indices gave up strong opening gains and turned negative in the final hour of trade.
The Sensex opened 154 points higher at 76,724.95 and climbed as much as 354 points to an intraday high of 76,924.48, helped by early buying in banking and realty stocks, but persistent selling in heavyweight IT and FMCG names dragged the index back into the red. Market breadth was mixed, with sectoral indices showing divergent trends; realty led gains with a 2.58 per cent rise, followed by media, PSU banks, private banks and metals, while auto, FMCG, IT and pharma sectors closed in the negative.
On the Sensex, Adani Ports and Special Economic Zone emerged as the top gainer, advancing 2.02 per cent to ₹1,706.50, while Bajaj Auto led the losers, declining 1.73 per cent to ₹11,920, followed by Tech Mahindra, which fell 1.54 per cent. Broader markets also came under pressure, with midcap and smallcap indices slipping as risk appetite weakened amid elevated Brent crude prices hovering near $97 a barrel and uncertainty over global growth and inflation.
Market analysts said the combination of high oil prices, which stoke fears of imported inflation and potential interest rate pressure, along with weak cues from global peers and profit-booking after recent rallies, kept sentiment fragile and prompted investors to reduce exposure in rate-sensitive and high-valuation segments.
The newly introduced Closing Auction Session (CAS), which began in August to align India’s closing price mechanism with global standards, also witnessed heightened volatility during the session, with sharp intraday swings in some index-linked derivatives.
The newly introduced Closing Auction Session (CAS), which began in August to align India’s closing price mechanism with global standards, also witnessed heightened volatility during the session, with sharp intraday swings in some index-linked derivatives.
For Friday, traders will be watching crude price movements, global equity trends and any fresh cues on domestic macro data for direction, with technical analysts noting key support for Nifty around 23,800–23,600 and resistance near 24,100–24,200.