Indian equities extended losses for a second straight session on Thursday as crude oil prices stayed above $110 per barrel and rising tensions in West Asia raised inflation concerns for India's oil-dependent economy. Nifty 50 fell 123.70 points, or 0.54%, to close at 22,687.65, after slipping to an intraday low of 22,554.85, while Sensex declined 460.30 points, or 0.62%, to settle at 73,249.39.
The indices recovered from the day's lows, helped by steady banking stocks, with the Bank Nifty ending nearly flat. Media, FMCG, and defence stocks were among the weakest, while IT reversed part of Wednesday's rally, with HCL Tech and Tech Mahindra among the major losers. Nestle India, Coal India, and Power Grid also declined, while Larsen & Toubro, Bharti Airtel, and ICICI Bank offered support.
Quarterly results drove sharp moves in individual stocks, with KEI Industries, Swiggy, and M&M Financial falling 6–8%, while Indian Hotels gained more than 4%. Breadth was clearly negative, with 1,026 stocks advancing, 2,512 stocks declining, and 104 remaining unchanged. Crude oil prices, West Asia developments, and the Jio IPO will remain in focus.
Buy: The Indian Hotels Company Limited(current price: ₹784.5)
Indian equity markets ended Thursday's session on a weak note, with Nifty 50 declining 123.70 points (0.54%) to 22,687.65, compared with its previous close of 22,811.35. The benchmark witnessed considerable intraday volatility, trading between 22,554.85 and 22,785.00, before recovering partially from its lows.