Mumbai, July 3
The Indian stock markets ended lower on Thursday after a day of cautious trading, as late selling pressure erased earlier gains. Investors remained watchful amid hopes of a possible trade agreement between the US and India.
The Sensex touched an intra-day high of 83,850 in early trade but eventually closed 170.22 points or 0.2 per cent lower at 83,239.7. Similarly, the Nifty also slipped by 48.1 points or 0.19 per cent, settling at 25,405.3 by the end of the session.
Markets traded volatile on the weekly expiry day and ended marginally lower, continuing the ongoing consolidation phase, said Ajit Mishra of Religare Broking Limited.
After an initial uptick, the Nifty oscillated sharply in both directions while remaining within Wednesday’s trading range, ultimately closing at 25,405.30.
“However, the overall trend remains bullish and is expected to stay intact unless the index decisively breaks below the 25,200-mark. On the upside, the 25,650–25,750 zone is likely to act as an immediate hurdle,” Mishra mentioned.
On the Sensex, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Trent, and State Bank of India were among the top losers. On the other hand, Maruti Suzuki India, Infosys, NTPC, Asian Paints, Hindustan Unilever, and Eternal were among the top gainers -- helping limit the downside.