Mumbai, July 17
The Indian stock market settled in negative territory on Thursday following selling in IT and banking stocks amid Q1 earnings, and FII outflows due to trade deal concerns.
Sensex ended the session at 82,259.24, down 375.24 points or 0.45 per cent against last day's closing of 82,634.48. The 30-share index opened slightly up at 82,753.53, but dragged in negative territory amid selling in IT, and banking heavyweights like TCS, Infosys, and HDFC Bank. The index hit an intraday low at 82,219.27.
Nifty settled at 25,111.45, down 100.60 points or 0.40 per cent.
“Indian equity benchmarks ended marginally lower as investors exercised caution amid subdued Q1 earnings announcements, particularly in the technology and banking sectors,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
Market participants remained sidelined due to elevated valuations of large-cap stocks and FII outflows. However, any positive developments could amplify market sentiment, he added.
Tech Mahindra, HCL Tech, Infosys, Eternal, TCS, Axis Bank, Bajaj FinServ, and HDFC were the top losers among the Sensex basket. While Tata Steel, Trent, Tata Motors, and Titan settled in positive territory.
Meanwhile, 19 shares advanced and 31 declined from the Nifty50.