Noida, Apr 28 (APAC Media): Indian stock markets closed on a weak note today, reflecting cautious investor sentiment amid mixed global cues and sector-specific pressures. The benchmark indices, BSE Sensex and NSE Nifty 50, witnessed a volatile session before ending lower.
The Sensex declined over 400 points to settle near the 76,800 marks, while the Nifty 50 slipped below the psychological 24,000 level. Markets opened on a muted note and remained range-bound for most of the session, as investors refrained from taking aggressive positions ahead of key global and domestic triggers.
Banking and financial stocks were among the top losers, with selling pressure seen across both PSU and private sector banks. Weak sentiment in the financial space weighed heavily on the broader indices. Auto stocks also faced headwinds, with Maruti Suzuki among the notable laggards after a subdued earnings outlook dampened investor confidence.
On the other hand, select energy and power stocks provided some support to the market. Shares of oil-linked companies gained on the back of firm crude oil prices, which boosted earnings expectations.
However, the gains were not sufficient to offset the broader weakness.
Among individual stocks, companies like Piramal Enterprises and Bandhan Bank remained in focus due to stock-specific developments and earnings reactions. Meanwhile, housing finance and capital goods stocks also saw mild profit booking after recent rallies.
Market participants remained cautious due to uncertainty in global markets and rising commodity prices, particularly crude oil. Persistent inflation concerns and geopolitical tensions have also kept investors on edge, limiting upside momentum.
Broader markets showed mixed performance, with mid-cap and small-cap indices displaying relative resilience compared to the benchmarks. Analysts believe the market may continue to trade in a narrow range in the near term, with stock-specific action driven by ongoing earnings announcements.
Overall, today’s session reflected a cautious undertone, with investors closely tracking global cues and corporate results for further direction.
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