Nifty falls 182 pts from day's high on F&O expiry; Sensex drops over 600 pts from peak
The BSE Sensex declined 170.22 points, or 0.20%, to close at 83,239.47, while the NSE Nifty slipped 48.10 points, or 0.19%, to settle at 25,405.30.
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Among the 30-stock Sensex pack, shares of Kotak Mahindra Bank, Bajaj Finance, Adani Ports, Trent, and State Bank of India led the laggards, declining between 0.8% and 1.9%.
Profit-taking in financials continued to weigh on sentiment, overshadowing optimism around easing global trade tensions. The Nifty Financial Services index ended 0.5% lower.
Broader markets, however, bucked the trend. The Nifty Smallcap 100 rose 0.3%, while the Nifty Midcap 100 closed flat.
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U.S. and Indian trade negotiators were pushing on Wednesday to finalise a tariff-reducing deal, though some disagreements remained unresolved, Reuters reported, citing sources.
HDFC Bank's unit and newly listed HDB Financial ended 3% higher, extending gains after a 13.6% jump on debut Wednesday.
Among individual stocks, Avenue Supermarts, which operates D-Mart, ended 1% lower after brokerages flagged a slowdown in sales growth in its quarterly business update.
Expert Views
The
market
remained rangebound and 'traded volatile on the weekly expiry day,' ultimately ending marginally lower as part of an ongoing consolidation phase, said Ajit Mishra, SVP, Research at Religare Broking.
While the Nifty oscillated in both directions, it stayed within Wednesday's trading range. 'Sector-wise, the trend remained mixed—auto and pharma posted gains, while metal and realty were among the top losers,' Mishra said, adding that broader indices also closed largely flat.
Mishra also pointed out that the absence of a strong trigger and a 'mixed trend among heavyweights is capping the Nifty's directional move,' although the broader outlook stays positive unless the index falls below 25,200.
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