Noida, Sep 3 (APAC Media): Indian benchmark equity indices ended lower on Thursday, with the Sensex falling over 400 points and the Nifty closing below the 24,000 mark, as gains in banking and select heavyweight stocks failed to offset selling in consumer, auto and technology counters.
The 30-share BSE Sensex declined 417.49 points, or 0.55 per cent, to settle at 76,152.86. The NSE Nifty 50 fell 41 points, or 0.17 per cent, to close at 23,873.45.
The session began on a positive note, with the Sensex gaining more than 260 points in early trade and the Nifty briefly crossing the 24,000 level.
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The Nifty touched an intraday high of 24,025.40 before surrendering gains as the session progressed.
Banking stocks provided some support after banks raised $136.4 billion through foreign-currency deposit and borrowing schemes involving the Reserve Bank of India, improving foreign exchange liquidity in the financial system.
Among Sensex constituents, Axis Bank was the top gainer, rising 0.89 per cent to Rs 1,266.15. Adani Ports gained 0.82 per cent to Rs 1,686.60, while Asian Paints, HDFC Bank and Bharti Airtel also ended in positive territory.
Titan was the biggest laggard on the Sensex, declining 2.17 per cent to Rs 4,960. Trent fell 1.93 per cent. ITC, Mahindra & Mahindra, Bajaj Finserv, HCL Technologies, Tech Mahindra and Sun Pharma were among other major losers.
Market sentiment remained cautious amid elevated crude oil prices. Brent crude was trading around $95 a barrel as concerns over potential supply disruptions linked to tensions around the Strait of Hormuz persisted.
Higher crude prices remain a concern for India, which meets a large portion of its oil requirements through imports, as an extended rise in energy costs can put pressure on inflation, the current account and corporate margins.
Global cues were relatively supportive. US stocks had recovered from a three-session decline, while several Asian markets traded higher, aided by easing bond yields and renewed interest in technology shares.
The Indian rupee strengthened 17 paise to close at 94.56 against the US dollar.
Investors will now track global economic data, crude oil prices, currency movements and signals from major central banks for further market direction.
–ENDS–
Disclaimer:Â This article is for informational purposes only and is based on publicly available information. APAC Media is not responsible for investment decisions or losses. Please conduct your own research or consult a financial adviser before investing.
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