Indian shares ended Thursday’s lackluster session slightly lower, with financials and telecom stocks pacing the declines.
Markets traded rangebound for the session despite several positive factors such as strong Q4 GDP data, signs of progress on the U.S. debt ceiling bill and receding bets for a rate hike by the U.S. Federal Reserve this month.
The benchmark S&P BSE Sensex fell 193.70 points, or 0.31 percent, to 62,428.54, extending losses for a second consecutive session.
The broader NSE Nifty index settled 46.65 points, or 0.25 percent, lower at 18,487.75.
Mid-cap and small-cap stocks posted strong gains, with corresponding indexes on the BSE rising 0.1 percent and 0.6 percent respectively.
Coal India led losses to close 4.7 percent lower after the government proposed to sell 3 percent stake in the company via an offer for sale.
Kotak Mahindra followed suit to end 4.2 percent lower while HDFC Life, SBI Life and Bharti Airtel lost 2-3 percent.
On the positive side, Hero Moto Corp, Tata Motors, Bajaj Auto, Divis Laboratories and Apollo Hospitals Enterprises jumped 2-4 percent.
Sobha soared 6.8 percent to extend recent gains on strong Q4 numbers.
Market Analysis
Sensex, Nifty Extend Losses For Second Day
2023-06-01 10:38:35
