27 August,2026 04:44 PM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices slumped on Thursday, as selling in HDFC Bank shares due to a federal lawsuit in New York and lingering geopolitical tensions dampened investor sentiment.
"Indian benchmark indices closed near their day's lows as rising crude oil prices in the second half of the session and continued geopolitical concerns weighed on investor sentiment. The market also witnessed elevated intraday volatility due to the monthly Sensex expiry, which kept price action choppy throughout the day and capped any meaningful recovery," Bajaj Broking Research said.
Extending their losses, the 30-share BSE Sensex declined 539.35 points, or 0.70 per cent, to settle at 76,933.59, while the 50-share NSE Nifty declined 116.90 points, or 0.48 per cent, to end at 24,090.85.
"Among sectors, intraday buying was seen in selective pharma and healthcare stocks, while the capital market index shed over 1 percent. Technically, on daily charts, the market has formed a bearish candle, and on intraday charts, it is holding a lower top formation, which is largely negative," Shrikant Chouhan, Head Equity Research, Kotak Securities said.
Among the Sensex constituents, Kotak Mahindra Bank, ICICI Bank, Tech Mahindra and Bharat Electronics were among the major gainers. HDFC Bank, NTPC, Mahindra & Mahindra, Bharti Airtel, HCL Tech and ITC were the major laggards. HDFC Bank shares hit a 52-week low after a lawsuit was filed against the company in New York over alleged violations of securities law.
On Wednesday, the benchmark market indices reversed their gains, as the Sensex slipped 183.15 points, or 0.24 per cent, to settle at 77,472.94, while the Nifty declined 126.80 points, or 0.52 per cent, to end at 24,207.75.
"Indian equities are likely to remain range-bound amid a lacklustre market environment, as softer crude prices provide limited relief against weak global cues and selective selling. Brent crude is trading around USD 86 per barrel following progress towards an interim framework for resuming shipping through the Strait of Hormuz, easing immediate supply concerns. However, Nifty remained under pressure, suggesting that geopolitical developments and global risk sentiment is outweighing the benefit from lower oil prices," Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services.
According to news agency PTI, Brent crude, the global oil benchmark, edged higher by 0.67 per cent to USD 88.43 per barrel, while, Foreign Institutional Investors (FIIs) bought equities worth Rs 502.63 crore on Wednesday.
"Expiry-led volatility and the lack of a diplomatic breakthrough in the Middle East continue to keep markets range-bound in the near term. While a degree of higher energy prices is largely factored into earnings expectations, the recent moderation in crude oil prices and long-term bond yields is supporting the inflation outlook," Vinod Nair, Head of Research, Geojit Investments said.
"Meanwhile, FII inflows and resilient earnings momentum remain supportive for Indian equities, particularly mid-caps, where several segments are relatively insulated from global uncertainties and continue to benefit from strong domestic demand trends," he added.
In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled higher, while Japan's Nikkei 225 and Hong Kong's Hang Seng index declined.
(With inputs from PTI)
