The Indian stock market ended Thursday's session largely flat despite initial optimism, with the Sensex declining 135.03 points or 0.18% to close at 75,135.03 and the Nifty 50 settling marginally lower by 4.3 points or 0.02% at 23,654.70. According to latest reports, the market opened higher with the Nifty 50 trading 154 points or 0.65% higher at 23,808.4 during early trade, supported by positive sentiment across global markets amid optimism over easing geopolitical tensions between the U.S. and Iran. However, selling pressure in select heavyweight stocks dragged both indices into negative territory during afternoon trade. The rupee appreciated 0.6% against the dollar to trade near 96, with the India VIX index declining 3%, indicating easing volatility in the market.
The Nifty FMCG index declined 0.61% to 50,213, marking its fourth consecutive trading session of decline with a total fall of 1.64% over this period. Major FMCG stocks witnessed significant selling pressure with Emami leading the decline at 3.78%, followed by United Breweries down 1.41%, Hindustan Unilever declining 1.15%, Tata Consumer Products falling 1.13%, and Colgate-Palmolive (India) dropping 1%. Other notable declines included United Spirits down 0.86%, Marico falling 0.8%, Godrej Consumer Products declining 0.72%, Britannia Industries down 0.65%, and Dabur India declining 0.65%. The sustained pressure on FMCG stocks reflects broader market concerns about consumer demand and sector-specific challenges.
Among sectoral indices, 6 out of 11 major indices ended higher, with the Nifty Realty index emerging as the top performer, rising 1.05% and extending gains for the third straight trading session. However, the Nifty IT index was the worst-performing sector, falling 0.56% for the second consecutive session, while the Nifty FMCG and Consumer Durables indices also traded in negative territory. Broader markets delivered mixed performance with the Nifty MidCap index declining 0.04% and the Nifty SmallCap index advancing 0.63%, indicating continued buying interest in select mid- and small-cap stocks. Market breadth remained positive with 1,910 stocks advancing, 1,374 declining, and 97 stocks hitting 52-week highs on the NSE, while 124 stocks were locked in Upper Circuit and 71 stocks hit Lower Circuit during the session.
Jubilant FoodWorks dropped 7.39% after the quick-service restaurant operator reported Q4 FY26 performance, with consolidated revenue from operations rising 19.3% YoY to ₹2,499.5 crore in Q4 FY26 from ₹2,095 crore in Q4 FY25. However, profit after tax surged 67.1% YoY to ₹82.4 crore in Q4 FY26 from ₹49.3 crore in the year-ago quarter. Apollo Hospitals Enterprise rose 2.85% to hit a record high after reporting strong quarterly earnings, supported by robust demand for complex medical procedures and growth in its pharmacy and digital health segments. Lenskart Solutions gained 2.39% after posting nearly 46% year-on-year revenue growth in the March quarter. Grasim Industries surged 6.17% to a record high after its fourth-quarter loss narrowed, aided by strong performance in its core businesses. However, Ola Electric declined 3.92% after reporting weaker March quarter revenue, with brokerages highlighting pricing pressure and execution-related challenges as concerns for future growth and margins.
Market sentiment improved globally after U.S. President Donald Trump stated that negotiations with Iran are nearing completion, according to a White House Pool report, raising hopes of reduced geopolitical tensions in West Asia and eased concerns over potential disruptions in global energy supplies. The development supported risk appetite across Asian markets, including India, with Wall Street rebounding sharply with all three major U.S. benchmark indices gaining more than 1% amid optimism surrounding a possible de-escalation in the U.S.-Iran conflict. NVIDIA reported strong first-quarter earnings with net profit surging to $58.3 billion or $2.39 per share, compared to $18.8 billion a year earlier, with revenue jumping 85% year-on-year to a record $81.62 billion and announcing an $80 billion share buyback programme. Brent crude futures rose 0.45% to $105.49 per barrel after rebounding from previous sessions, while U.S. Treasury yields declined sharply with the benchmark 10-year yield falling 9.4 basis points to 4.576%.
