Sensex, Nifty end off highs as bank, auto stocks drag
Benchmark equity indices Nifty and Sensex ended off their intra-day highs on Thursday as selling pressure in banking and auto stocks capped gains.
However, investors also remained cautious ahead of further clarity on upcoming negotiations between the US and Iran.
At the closing bell, the Sensex was at 77,988.68, down by 122.56 points or 0.16 per cent. Nifty followed suit and closed at 24,196.75, down by 34.55 or 0.14 per cent.
Shares of HDFC Bank, Oil and Natural Gas Corporation, and HDFC Life Insurance Company were among the top laggards in the Nifty index.
Despite the weakness in frontline indices, broader markets showed resilience and outperformed the benchmarks.
The Nifty MidCap index ended 0.63 per cent higher, while the Nifty SmallCap index gained 0.83 per cent.
On the sectoral front, metal and IT stocks led the gains, with the Nifty Metal and Nifty IT indices emerging as the top performers.
In contrast, rate-sensitive sectors such as private banks and financial services witnessed selling pressure, with the Nifty Private Bank and Nifty Financial Services indices closing as the top losers.
Market participants are expected to remain watchful in the near term, tracking global cues and developments around geopolitical tensions, particularly the US-Iran talks, which could influence investor sentiment and market direction.
(IANS)
