Indian equity markets ended lower on Thursday, with the Sensex falling over 500 points and the Nifty slipping below the 24,200 mark, as weak global cues and rising crude oil prices weighed on investor sentiment.
The decline was broad-based, with selling pressure seen across banking, financial services, IT, and auto stocks. Market participants said concerns over higher crude oil prices and continued foreign fund outflows added to the negative mood.
Among Sensex constituents, major laggards included HDFC Bank, Bajaj Finance, Axis Bank, UltraTech Cement, SBI, and Coal India, which dragged the indices lower during the session. The weakness in heavyweight financial stocks had a significant impact on overall market direction.
On the other hand, a few stocks managed to buck the trend. Titan, Asian Paints, Adani Ports, Infosys, and HCL Tech were among the key gainers, offering some support to the broader market.
Broader indices also ended in the red, though small pockets of resilience were visible in select sectors. Market experts said investors remained cautious amid geopolitical tensions and volatility in global crude oil prices, which have raised concerns over inflation and margins for corporates.
The rise in crude oil prices is particularly significant for India, as it is a major importer of energy. Higher oil prices can increase inflationary pressure and widen the trade deficit, which typically weighs on equity markets.