India’s domestic benchmark indices ended lower on Thursday as investors awaited Q3 FY25 earnings. Selling was observed across IT, PSU banks, financial services, pharma, and auto sectors.

The Sensex closed at 77,620.21, down by 528.28 points or 0.68%, while the Nifty settled at 23,526.50, losing 162.45 points or 0.69%.

The Nifty Bank index finished at 49,503.5, dropping 331.55 points or 0.67%. The Nifty Midcap 100 index declined by 524.70 points or 0.93% to 55,745.90, while the Nifty Smallcap 100 index fell by 247.30 points or 1.35% to close at 18,118.35.

Market experts attributed the market’s decline to cautious investor sentiment and selling in US bonds, in line with trends observed across Asian markets.

On the domestic front, the FMCG sector was among the gainers, while other sectors faced declines due to limited optimism surrounding Q3 earnings.

On the Bombay Stock Exchange (BSE), 1,210 shares advanced, 2,750 shares declined, and 107 remained unchanged.

In the Sensex pack, companies such as Zomato, Tata Steel, NTPC, L&T, Tata Motors, HDFC Bank, TCS, SBI, Tech Mahindra, Axis Bank, UltraTech Cement, Bajaj Finance, Infosys, Maruti Suzuki, Reliance, Sun Pharma, Bajaj Finserv, and Power Grid recorded losses. On the other hand, Nestle India, Hindustan Unilever Limited, M&M, Kotak Mahindra Bank, Asian Paints, Bharti Airtel, and ITC registered gains.

Foreign institutional investors sold equities worth Rs 3,362.18 crore on January 8, while domestic institutional investors purchased equities valued at Rs 2,716.28 crore on the same day.

The Nifty index closed marginally above its support level of 23,500, forming a bearish candlestick below the 200-day EMA.

Analyst Vatsal Bhuva of LKP Securities said, “A breach below 23,500 would confirm a sell-on-rise trend with further downside potential. However, holding above this level could lead to consolidation. In the near term, 23,500 serves as key support, while resistance is placed at 23,800.”

– IANS