The BSE Sensex declined 170.22 points, or 0.20%, to close at 83,239.47, while the NSE Nifty slipped 48.10 points, or 0.19%, to settle at 25,405.30.
The market capitalisation of all listed companies on the BSE shrank by Rs 1.58 lakh crore to Rs 460.31 lakh crore.
Among the 30-stock Sensex pack, shares of Kotak Mahindra Bank, Bajaj Finance, Adani Ports, Trent, and State Bank of India led the laggards, declining between 0.8% and 1.9%.
Profit-taking in financials continued to weigh on sentiment, overshadowing optimism around easing global trade tensions. The Nifty Financial Services index ended 0.5% lower.
Broader markets, however, bucked the trend. The Nifty Smallcap 100 rose 0.3%, while the Nifty Midcap 100 closed flat.U.S. and Indian trade negotiators were pushing on Wednesday to finalise a tariff-reducing deal, though some disagreements remained unresolved, Reuters reported, citing sources.HDFC Bank’s unit and newly listed HDB Financial ended 3% higher, extending gains after a 13.6% jump on debut Wednesday.
Among individual stocks, Avenue Supermarts, which operates D-Mart, ended 1% lower after brokerages flagged a slowdown in sales growth in its quarterly business update.
Expert Views
The market remained rangebound and “traded volatile on the weekly expiry day,” ultimately ending marginally lower as part of an ongoing consolidation phase, said Ajit Mishra, SVP, Research at Religare Broking.
While the Nifty oscillated in both directions, it stayed within Wednesday’s trading range. “Sector-wise, the trend remained mixed—auto and pharma posted gains, while metal and realty were among the top losers,” Mishra said, adding that broader indices also closed largely flat.
Mishra also pointed out that the absence of a strong trigger and a “mixed trend among heavyweights is capping the Nifty’s directional move,” although the broader outlook stays positive unless the index falls below 25,200.
Crude Impact
Oil prices edged lower on Thursday as demand concerns resurfaced amid the prospect of U.S. tariffs being reinstated, just ahead of an anticipated increase in supply from major producers.
Brent crude futures slipped 58 cents, or 0.8%, to $68.53 a barrel, while U.S. West Texas Intermediate (WTI) fell 57 cents, or 0.9%, to $66.88 by 0942 GMT.
Rupee vs Dollar
The Indian rupee climbed to its strongest level in over a month on Thursday, briefly hitting 85.20, its highest since late May, before settling at 85.31, up 0.4% for the day. The gains were driven by dollar sales from foreign banks and unwinding of short positions on the rupee, while optimism around a potential U.S.-India trade deal also buoyed sentiment.
Meanwhile, the dollar index, which measures the greenback against a basket of six major currencies, edged up 0.05% to 96.82.
(with inputs from agencies)