CHENNAI: The Indian stock markets on Thursday (July 3) closed slightly lower after a day of mixed activity. The BSE Sensex fell by 170 points, or 0.20%, ending at 83,239, while the NSE Nifty 50 dropped 48 points, or 0.19%, to close at 25,405. Earlier in the day, both indices had made gains, with the Sensex rising over 440 points, but late selling in financial and metal shares caused the markets to retreat before closing.
Among the major stocks on the Sensex, Kotak Mahindra Bank, Bajaj Finserv, Bajaj Finance, Adani Ports, State Bank of India, Titan, Tata Consultancy Services, and Trent saw declines. On the other hand, companies like Maruti Suzuki, Infosys, NTPC, Asian Paints, Hindustan Unilever, and Eternal managed to close higher, supported by gains in the auto and pharmaceutical sectors.
Sector performance was mixed overall, with autos and pharma posting gains, while metals and real estate lagged. The broader market indices ended flat, reflecting a cautious investor mood.
Global cues
Globally, Asian markets showed mixed results with Japan’s Nikkei, South Korea’s Kospi, and China’s Shanghai Composite closing higher, but Hong Kong’s Hang Seng falling. European markets were trading mixed, while US markets had closed mostly higher the previous day, with indexes such as the S&P 500 and Nasdaq reaching new record highs.
Rupee
The Indian rupee strengthened against the US dollar, closing near 85.55, helped by expectations of a US interest rate cut and encouraging trade developments between the US and Vietnam. This currency gain added some support to market sentiment despite the cautious stock market close.