Mumbai (Rajeev Sharma): Indian equity indices started Thursday’s trading on a negative note, extending losses amid sustained selling by foreign investors and lacklustre global signals.
At the opening bell, the BSE Sensex was down 297.96 points, settling around 84,699.17, while the NSE Nifty dropped 90.05 points to 25,963.85. The decline was led by weakness in key sectors such as pharmaceuticals, FMCG, and metals.
Among the top laggards on the Sensex were Sun Pharma, Bharti Airtel, Power Grid, ITC, Tata Steel, and Asian Paints. In contrast, Larsen & Toubro, Adani Ports, Maruti Suzuki, and Eternal managed to trade in the green, lending some support to the indices.
Broader Asian markets, however, showed a different mood. Major regional indices including Japan’s Nikkei 225, South Korea’s Kospi, Hong Kong’s Hang Seng, and China’s SSE Composite were trading higher, supported by optimism over regional earnings and policy stability.
In the United States, major stock averages closed on a mixed note on Wednesday, as investors weighed economic data against concerns over interest rate trends.
Crude oil prices eased slightly, with Brent crude trading 0.22% lower at $64.78 per barrel, offering mild relief for import-dependent economies like India.
Data from the stock exchanges showed that foreign institutional investors (FIIs) continued to trim their positions, offloading shares worth ₹2,540.16 crore on Wednesday. Persistent FII outflows have been a key drag on the market in recent sessions.
Market experts say investor sentiment remains cautious due to foreign fund withdrawals and uncertainty over global cues. “Until we see a reversal in foreign inflows or stronger domestic triggers, the market may continue to consolidate,” said a senior market analyst.
Traders expect volatility to remain elevated in the short term, with investors closely watching upcoming earnings releases and global central bank updates for direction.
