Indian equities ended the session lower on Thursday as losses in several cyclical sectors outweighed gains among select energy and utility firms.
Market close - At the National Stock Exchange close, the Nifty 50 declined 0.95% to register a new six-month low. The BSE Sensex fell 1.08% over the same period.
Top movers on the Nifty - Coal India Ltd (NSE:COAL) led gains on the Nifty 50, climbing 5.07% or 22.65 points to finish at 469.40. NTPC Ltd (NSE:NTPC) added 2.91% or 11.05 points to close at 390.95, and Power Grid Corporation of India Ltd (NSE:PGRD) rose 1.44% or 4.30 points to end the day at 303.10.
Largest decliners on the Nifty - IndusInd Bank Ltd. (NSE:INBK) was the session's weakest Nifty constituent, slipping 5.26% or 46.15 points to finish at 831.00. Mahindra & Mahindra Ltd. (NSE:MAHM) fell 4.39% or 139.10 points to close at 3,029.10, while Eicher Motors Ltd. (NSE:EICH) dropped 3.92% or 284.00 points to trade at 6,969.50 at the close.
BSE Sensex movers - On the Sensex 30, NTPC Ltd (BO:NTPC) rose 2.75% to 390.45. Tech Mahindra Ltd (BO:TEML) advanced 1.61% to settle at 1,355.45, and Power Grid Corporation of India Ltd (BO:PGRD) gained 1.54% to close at 303.40.
Sensex laggards - IndusInd Bank Ltd. (BO:INBK) declined 5.43% to 829.30 in late trade. Mahindra & Mahindra Ltd. (BO:MAHM) lost 4.32% to finish at 3,030.00, and Maruti Suzuki India Ltd. (BO:MRTI) was down 3.76% to end at 12,995.00.
Market breadth - On the National Stock Exchange, decliners outnumbered advancers 1,566 to 948, with 47 shares unchanged. On the Bombay Stock Exchange, 2,341 stocks fell, 1,644 advanced and 163 finished unchanged.
Notable milestones - Shares of Coal India Ltd (NSE:COAL) rose to 52-week highs, increasing 5.07% or 22.65 to 469.40. NTPC Ltd (NSE:NTPC and BO:NTPC) similarly reached 52-week highs, with the NSE-listed stock up 2.91% or 11.05 to 390.95 and the BSE-listed line rising 2.75% or 10.45 to 390.45.
Volatility and commodities - The India VIX, which measures implied volatility of Nifty 50 options, climbed 1.74% to 21.43. In commodities trading, Gold Futures for April delivery were up 0.16% or 8.31 to $5,187.41 a troy ounce. Crude oil for April delivery rose 4.62% or 4.03 to $91.28 a barrel, while the May Brent oil contract advanced 4.92% or 4.53 to trade at $96.51 a barrel.
Currency and U.S. dollar - The USD/INR exchange rate moved up 0.16% to 92.35, while EUR/INR fell 0.13% to 106.53. The US Dollar Index Futures increased 0.16% to 99.39.
What happened - Market activity on Thursday reflected sectoral divergence: energy and utilities names, including Coal India and NTPC, posted gains and in some cases hit 52-week highs, while financials, autos and certain consumer cyclicals posted notable losses. Broader market breadth skewed negative on both major exchanges and measures of volatility and commodity prices moved higher alongside modest currency changes.