Stock Market Live Updates: Sensex, Nifty50 expected to see muted start on weak global cues, rising oil prices amid US-Iran impasse
Weakness in banking, financial and automobile shares further dragged the benchmarks down, according to market participants.
The 30-share Sensex fell 416.72 points, or 0.54 per cent, to close at 76,886.91. During intraday trade, it had dropped as much as 562.57 points, or 0.72 per cent, to touch 76,741.06.
Market breadth on the BSE remained negative, with 2,257 stocks ending lower, while 1,998 advanced. Another 172 shares closed unchanged.
The broader Nifty 50 declined by 97 points, or 0.40 per cent, to settle at 23,995.70.
Ajit Mishra, SVP, Research at Religare Broking, said trading sentiment remained dominated by ongoing geopolitical concerns, particularly surrounding negotiations between the US and Iran. These uncertainties kept crude oil prices elevated, creating pressure on the markets.
He added that banking stocks also faced selling following regulatory developments related to provisioning requirements, which further limited any upward momentum. However, gains in select heavyweight stocks, commodity-linked counters and company-specific earnings-driven buying helped contain the losses.
Among Sensex constituents, major laggards included Axis Bank, HCL Technologies, InterGlobe Aviation, Maruti Suzuki, State Bank of India and ICICI Bank.
On the gaining side, Reliance Industries, Bharti Airtel, Tech Mahindra and Sun Pharmaceutical Industries posted advances.
Among broader market indices, the BSE SmallCap Select index rose 0.42 per cent, while the BSE MidCap Select index slipped 0.27 per cent.
