Indian equity indices closed in the red on Thursday after weak US consumer data rekindled global recession worries. Selling was seen across all sectors except PSU bank and oil & gas stocks.
The BSE Sensex index ended 187 points or 0.31% lower at 60,858, while Nifty50 fell 57 points or 0.32% to settle at 17,108.
Among the Sensex stocks, Asian Paints and Tata Motors were the top laggards, falling about 2-3%. IndusInd Bank, Kotak Bank, HUL, Titan, UltraTech Cement and Bajaj Finserv also closed with losses. However, Power Grid, Tata Steel, Axis Bank, Tech Mahindra, L&T and HDFC Bank closed with gains.
Sector wise, the Nifty FMCG fell 0.86% and Nifty Consumer Durables declined 0.63%. Banks, auto, financials, media, metal, pharma and realty stocks also closed lower. Whereas, in the broader market, Smallcap50 dropped 0.52% and Nifty Midcap50 ended flat. The market capitalisation of all listed companies on the BSE declined by Rs 1.92 lakh crore to Rs 281.71 lakh crore.
Global shares were mostly lower on Thursday as investors grew cautious after Wall Street’s biggest pullback of the year.
The rupee eased, tracking its Asian emerging market counterparts, which declined after a batch of weak US data stoked worries about a slowdown in the world’s top economy.
Mr Shrikant Chouhan of Kotak Securities said Nifty has formed an inside body candle formation which is indicating non-directional activity. For traders, 18050 would be the immediate support zone and below the same the index could slip till 17950-17900.
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