Indian stocks ended the trading session lower on Thursday, driven by losses in Real Estate, Power and Oil & Gas, which exerted downward pressure on the broader market.
At the close on the National Stock Exchange, the Nifty 50 declined 0.53%. On the Bombay Stock Exchange, the Sensex 30 slipped 0.47%.
Top and bottom movers on the Nifty 50
Among Nifty constituents, Hero MotoCorp Ltd (NSE:HROM) was the session's strongest mover, finishing up 3.71% - an increase of 184.90 points - to close at 5,172.00. SBI Life Insurance Company Ltd (NSE:SBIL) gained 2.89% or 52.30 points to end at 1,859.00. Bajaj Auto Ltd (NSE:BAJA) also outperformed, rising 2.55% or 280.50 points to finish at 11,279.00.
On the downside, IndusInd Bank Ltd. (NSE:INBK) recorded the steepest fall among Nifty names, slipping 6.11% - or 65.30 points - to close at 1,004.00. Adani Enterprises Ltd (NSE:ADEL) declined 4.25% or 133.70 points to end at 3,014.00, while Nestle India Ltd (NSE:NEST) fell 3.39% or 50.60 points to finish at 1,443.00.
BSE Sensex 30 movers
On the BSE Sensex 30, Mahindra & Mahindra Ltd. (BO:MAHM) led gainers, rising 1.78% to close at 3,231.25. Tata Consultancy Services Ltd. (BO:TCS) added 1.59% to settle at 2,244.00, and Eternal Ltd (BO:ETEA) advanced 1.11% to finish at 286.55.
Lagging names on the Sensex included IndusInd Bank Ltd. (BO:INBK), which fell 6.17% to 1,003.90, Nestle India Ltd (BO:NEST) which lost 3.49% to settle at 1,440.10, and Adani Port and Special Economic Zone Ltd (BO:APSE), down 2.01% to close at 1,782.80.
Market breadth and notable levels
On the NSE, decliners outnumbered advancers by 1,627 to 897, with 65 issues unchanged. On the BSE, 2,390 stocks fell, 1,568 advanced and 157 finished flat. Shares of Bajaj Auto Ltd (NSE:BAJA) reached fresh 52-week highs, rising 2.55% or 280.50 points to 11,279.00.
The India VIX, which gauges implied volatility of Nifty 50 options, moved up 1.35% to 13.47, indicating a modest rise in expected near-term volatility.
Commodities and currency movements
Gold futures for August delivery declined 1.43%, or $59.35, to $4,092.55 a troy ounce. Energy contracts showed larger moves: crude oil for September delivery rose 4.41% or $3.83 to $90.66 a barrel, while the September Brent contract increased 5.10% or $4.80 to trade at $98.87 a barrel.
In currency markets, USD/INR was up 0.13% at 96.69, while EUR/INR fell 0.03% to 110.17. The US Dollar Index Futures was up 0.06% at 101.01.
What this means for market participants
The session reflected uneven leadership across sectors. Auto and selected financials posted gains, while pressure in Real Estate, Power and Oil & Gas contributed materially to the indices' declines. The rise in crude and a modest uptick in volatility are additional factors for traders and portfolio managers to monitor.
Measured market breadth shows declines were more widespread than gains on both major exchanges, which supports the characterization of a broadly softer session rather than a narrow sell-off limited to a handful of names.