Sensex, Nifty Marginally Down Amid Mixed Sectoral Trends

Mumbai (IANS): Indian benchmark indices closed marginally lower on Thursday following a range-bound trading session. While the frontline indices struggled for direction, broader markets outperformed and auto stocks drew significant buying interest.

Market Performance and Technical Levels

The Nifty 50 slipped 4.30 points (0.02%) to end at 24,326.65, while the Sensex dropped 114 points (0.15%) to settle at 77,844.52. Market analysts identified the 24,400–24,500 zone as immediate resistance for the Nifty, noting that a breakout could push levels toward 24,600. On the downside, the 24,100–24,000 range remains the primary support area.

Sectoral Gainers and Drags

Hindustan Unilever, TCS, and Titan emerged as the top drags on the Nifty. Consequently, the Consumer Durables, IT, and FMCG sectors underperformed throughout the day. In contrast, the Nifty Auto index led sectoral gains. The broader market remained bullish, with the Nifty MidCap advancing 1.20% and the Nifty SmallCap gaining 0.97%.

Global Impact and Currency

Global factors, particularly geopolitical developments in the Gulf, influenced investor sentiment. Brent crude futures plunged 2.74% to $98.50 per barrel following reports of a potential U.S.–Iran agreement to reopen the Strait of Hormuz.

This improving diplomatic sentiment also boosted the Indian Rupee, which strengthened by 15 paise to trade at 94.24 against the U.S. Dollar. Analysts expect continued volatility as markets track Iran’s response to the current peace proposals.