Stock market today: BSE Sensex ends over 300 down; Nifty50 above 78,500

A decisive upside breakout of 23,500-23,600 levels could open more upside ahead, says Nagaraj Shetti of HDFC Securities. (AI image)

Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened flat in trade on Thursday. While BSE Sensex was near 78,580, Nifty50 was above 23,750. However, the indices ended the day in red with BSE Sensex at 78,271.28, down 312 points or 0.40% while Nifty50 closed at 23,696.30, down 42 points or 0.18%.
Among Sensex components, Asian Paints, Titan and Nestle emerged as major laggards. ITC Hotels led the gainers with more than 2% increase. Other advancing stocks included Adani Ports, IndusInd Bank, Tata Motors and HDFC Bank.
Indian equity markets rallied during early trade on Wednesday after US President Trump’s decision to defer planned tariffs on Canada and Mexico for 30 days, easing concerns about escalating trade tensions.
“The index rebound signals a determined effort by bulls to reclaim lost ground, with a decisive break above the critical resistance at the 200 DEMA i.e. 23,620 in Nifty potentially strengthening their position further. The next target range stands at 23,900–24,200,” said Ajit Mishra – SVP, Research, Religare Broking.
“However, a decisive upside breakout of 23,500-23,600 levels could open more upside ahead. Immediate support is placed at 23,200 levels,” said Nagaraj Shetti of HDFC Securities.
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Wall Street closed higher with major indexes gaining ground – Dow up 0.3%, S&P rising 0.72%, and Nasdaq gaining 1.35%, supported by energy stocks.
Asian markets showed positive momentum with Japan’s Topix rising 0.7% and Australia’s S&P/ASX 200 up 0.5%. While S&P 500 futures fell 0.4%, Hang Seng futures increased 0.6%, and Euro Stoxx 50 futures gained 1.1%. Chinese markets were set to reopen.
Gold prices reached an all-time high as China responded to US tariffs, reflecting increased safe-haven demand from the world’s largest gold consumer.
In the derivatives segment, no securities were placed under the F&O ban period, which includes companies crossing 95% of the market-wide position limit.
Foreign portfolio investors turned net sellers with outflows of Rs 3,958 crore, while domestic institutional investors purchased shares worth Rs 2,708 crore. The net short position of FIIs decreased from Rs 1.84 lakh crore to Rs 1.54 lakh crore.