Mumbai: Indian stock markets took a hit on Thursday, with the BSE Sensex dropping 345.80 points, or 0.41%, to settle at 83,190.28, and the NSE Nifty declining 120.85 points, or 0.47%, to close at 25,355.25. Heavy selling in IT and telecom stocks drove the downturn, as investors adopted a cautious stance with Tata
Market Movers: Winners and Losers
Major Sensex laggards included Bharti Airtel, Asian Paints, Infosys, Bharat Electronics, Tech Mahindra, and Eternal, weighing heavily on the index. However, gains in stocks like Maruti, Tata Steel, Bajaj Finance, Bajaj Finserv, Trent, and TCS provided some cushion. Global market trends offered mixed signals, with South Korea’s Kospi, Shanghai, and Hong Kong’s Hang Seng closing higher, while Japan’s Nikkei 225 ended in the red. European markets traded mostly in positive territory, following a strong close in the US on Wednesday.
Also read: Rupee Falls 8 Paise to 85.70 Against US Dollar in Early Trade
US Tariff Talks and Global Influences
Market sentiment was further dampened by uncertainty surrounding ongoing India-US trade negotiations, particularly over agriculture and automobile sectors. The US has extended a 26% import duty on Indian goods until August 1, and India’s push to eliminate these tariffs added to investor unease. Meanwhile, Foreign Institutional Investors (FIIs) showed cautious optimism, purchasing stocks worth Rs 77 crore on Wednesday. A slight dip in global oil prices, with Brent crude down 0.27% to $70 per barrel, also shaped market dynamics.
Also read: Trump Slaps 50% Tariff on Brazil Amid Bolsonaro Trial Tensions
As investors brace for TCS’s Q1 earnings and monitor global cues, Thursday’s session reflected a cautious market navigating domestic and international pressures.
[With PTI Inputs]