Indian stock markets continued their decline on Thursday with the BSE Sensex falling 274.50 points or 0.35% to 77,806.51, while the NSE Nifty 50 dropped 59.70 points or 0.24% to 24,336.15 as of 10:25 AM. According to Business Standard, the Nifty traded below the 24,350 mark, with sentiment remaining subdued amid a lack of strong directional cues. GIFT Nifty futures were quoted at 24,447.50, down 26 points, indicating limited momentum ahead of the opening bell. Global markets showed mixed signals with US markets closing mixed in the previous session - the Dow Jones slipped 0.04% while the S&P 500 gained 0.26% and the technology-heavy Nasdaq Composite ended 0.54% higher. The current decline comes amid Hormuz uncertainty and broader geopolitical concerns affecting market sentiment, with investors continuing to monitor movements in crude oil prices, Gold and developments on the global geopolitical front for further indications on the market's near-term trajectory.
The Nifty Metal Index declined 1.05% to 12,896.80, extending its decline to 2.09% over two consecutive trading sessions. According to Business Standard, metal shares witnessed selling pressure for two consecutive trading sessions, adding to the broader market weakness. National Aluminium Company plunged 4.57%, Hindustan Zinc fell 2.83%, Hindustan Copper dropped 2.7%, Tata Steel declined 1.67%, and Hindalco Industries declined 1.5%. Other major metal stocks including NMDC (down 1.27%), JSW Steel (down 0.98%), Vedanta (down 0.72%), Steel Authority of India (down 0.69%), and Jindal Steel (down 0.58%) also contributed to the sector's decline. The metal sector's weakness has been a key drag on the broader market performance, with investors closely monitoring commodity price movements and global trade developments.
Market breadth remained negative with 1,767 shares rising and 1,993 shares falling on the BSE, while 248 shares remained unchanged. As per Business Standard, in the broader market, the BSE 150 MidCap Index shed 0.16% and the BSE 250 SmallCap Index fell 0.02%. The negative breadth indicates selective selling across market segments, with investors focusing on specific sectors rather than broad-based buying interest. This contrasts with previous sessions where media shares provided support to the broader market, highlighting the current shift in sectoral performance dynamics.
Among Nifty 50 constituents, Titan, Tata Consumer Products and Bajaj Finance led the gainers, while SBI, Eternal and ITC were the key laggards. From the Sensex pack, Titan, Bajaj Finance, Bajaj Finserv, Tata Steel, Asian Paints, and Infosys were among the major winners, while State Bank of India, Eternal, NTPC, ITC, and Tata Consultancy Services were among the laggards. JSW Cement reported consolidated net profit of ₹160.64 crore in Q1 FY27 compared with net loss of ₹1,356.17 crore in Q1 FY26, with revenue from operations jumping 21.58% YoY to ₹1,896.41 crore. LG Electronics India's standalone net profit jumped 27.2% to ₹652.86 crore in Q1 FY27, compared with ₹513.25 crore in Q1 FY26, with revenue rising 15.49% YoY to ₹7,233.35 crore.
