Indian equity markets ended lower in Thursday’s session as the geopolitical tension between Iran and Israel continued to put pressure on markets, along with the US Fed’s cautious commentary on the effect of Trump’s tariffs going forward on the economy.
The Nifty 50 closed the session almost 20 points or 0.08% lower at 24,793, the Sensex lost 83 points or 0.10% to end at 81,362.
In line with the overall bearish market sentiments, the Nifty Bank fell 251 points or 0.45% to end at 55,577.
The broader indices bled the most in today’s session. The BSE Midcap pulled back almost 749 points or 1.64% to 44,941. On the other hand, the BSE Smallcap remained steady, surging 940 points or 1.77% to 52,093.75.
“The Indian equity index experienced rangebound movement with a negative bias as cautious sentiment spread across the globe, driven by concerns over potential U.S. involvement in the Middle East conflict. Investor mood was further affected by the Fed’s decision to keep interest rates unchanged while signalling persistent inflation and slower economic growth, which weighed on software export stocks,” said Vinod Nair, Head of Research at Geojit Investments.
“Broader market performance lagged the benchmark index, influenced by selling in mid- & small-caps, while better stability was noticed in large-cap growth stocks, keeping a close watch on crude oil prices and global developments,” added Nair.
This is a developing story, more details are being added. Please watch the space for updates.
» Read More
