Market Proceeds with Caution Amidst US-India Trade Talks
Indian stock markets saw continued declines due to profit booking and caution over upcoming US-India trade negotiations. Key indices, Sensex and Nifty, closed lower, though optimism about earnings helped sentiment. Sectors showed varied performance as market participants awaited outcomes of crucial trade discussions impacting tariff agreements.
- Country:
- India
The Indian stock market experienced another day of declines on Thursday, primarily driven by profit booking. Nifty dropped by 48.10 points, ending at 25,405.30, while the BSE Sensex decreased by 170.22 points to close at 83,239.47.
Vinod Nair, from Geojit Investments, commented that the market's consolidation followed last week's rally. However, investor caution loomed ahead of a potential trade agreement between the US and India, which affected the overall market sentiment.
Among the trading sectors, Dr Reddy, Apollo Hospital, and Hero Moto Corp were the top gainers, whereas SBI Life and Kotak Bank faced losses. Sectoral performance showed mixed results, with healthcare indices gaining, while PSU Banks and Metals declined.
Out of the 3,025 stocks traded, 1,450 advanced, while 1,472 declined and 103 remained unchanged. Nair added that despite cautious Foreign Institutional Investors due to high valuations, optimism about upcoming earnings and a weakening US dollar sustained market sentiment.
In precious metals, Gold edged down slightly, with Comex prices falling to USD 3,365.75, reflecting minor market fluctuations.
(With inputs from agencies.)
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