Indian benchmark equity indices extended their losing streak for the fourth consecutive session on Thursday as investors remained cautious amid rising global uncertainty, persistent foreign fund outflows and mixed corporate earnings.
The BSE Sensex settled 363.99 points, or 0.47%, lower at 76,390.89, while the NSE Nifty 50 declined 126.40 points, or 0.53%, to close at 23,868.80, slipping below the crucial 23,900 mark.
The benchmark indices traded in a narrow range for most of the session before selling pressure intensified during the second half. Investors largely avoided aggressive buying ahead of key global economic developments and continued to monitor quarterly earnings announcements from major Indian companies.
Among the Sensex stocks, Reliance Industries, IndusInd Bank, Mahindra & Mahindra, Tata Motors, Larsen & Toubro, State Bank of India, NTPC and Asian Paints were among the biggest losers. Selling in financial, automobile, infrastructure and energy stocks kept the broader market under pressure throughout the day.
On the positive side, Infosys, TCS, HCLTech, Tech Mahindra and Nestlé India bucked the weak trend and ended higher. Buying in information technology stocks supported the market after investors responded positively to the sector’s earnings outlook and continued optimism around global demand for digital and artificial intelligence services.
The broader market also witnessed weakness, with both the Nifty Midcap 100 and Nifty Smallcap 100 ending lower. Most sectoral indices finished in the red, led by banking, auto, realty and metal stocks. However, the Nifty IT index outperformed the broader market as investors rotated into technology shares.
Market participants said uncertainty surrounding global trade policies, geopolitical tensions and elevated crude oil prices continued to influence investor sentiment. Higher oil prices remain a concern for India as they can increase import costs, widen the current account deficit and add pressure on inflation.
Foreign institutional investors (FIIs) also remained cautious, while domestic institutional investors continued to provide selective support to quality stocks. Analysts believe investor sentiment is likely to remain stock-specific as the corporate earnings season gathers pace.
The market also reacted to quarterly earnings from several companies, with investors closely tracking management commentary on demand, margins and future growth prospects. Strong results from select IT companies helped limit the day’s losses, while weakness in banking and heavyweight stocks offset those gains.
Globally, Asian markets ended mixed as investors assessed corporate earnings and awaited further clarity on interest rate expectations from major central banks. Market participants also remained watchful of developments in global trade and geopolitical tensions, which continue to create volatility across financial markets.
Analysts said the Indian market continues to show resilience despite recent declines, supported by healthy domestic economic fundamentals and steady participation from retail investors. However, near-term volatility is expected to persist due to external factors, including global inflation concerns, movements in crude oil prices and foreign investment flows.
Going forward, investors will closely watch upcoming corporate earnings, foreign institutional investment trends, crude oil prices and global economic data for further market direction. Any improvement in global sentiment or stronger-than-expected earnings could help the benchmarks recover, while continued uncertainty may keep markets under pressure in the near term.
Despite the fourth straight session of losses, analysts believe long-term investors should remain focused on fundamentally strong companies rather than short-term market fluctuations. With the earnings season entering a crucial phase, stock-specific action is expected to dominate trading over the coming weeks, even as broader indices continue to respond to global and domestic cues.
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