New Delhi, February 5: The Indian stock market closed in the red on Thursday, following three consecutive days of gains. By the end of the trading session, the Sensex fell by 503.76 points, or 0.60%, to settle at 83,313.93. The Nifty also dropped by 133.20 points, or 0.52%, closing at 25,642.80.
Defense stocks led the decline, with HAL down 4.31%, Data Patterns falling 3.63%, and Sciant DLM decreasing by 3.34%.
Sector indices showed weakness as well, with Nifty India Defense down 2.10%, Nifty Metal down 1.02%, and Nifty Consumer Durables down 0.82%. Both the Nifty India Manufacturing and Nifty Consumption Index closed down by 0.59%.
In contrast, the Nifty PSU Bank index rose by 0.38%, while the Nifty Healthcare index saw a slight increase of 0.14%.
Midcap and small-cap indices also ended in negative territory. The Nifty Midcap 100 index fell by 166.50 points, or 0.28%, to close at 59,517.10, while the Nifty Smallcap 100 index dropped by 221.20 points, or 1.20%, ending at 16,983.90.
The trading market reflected this downturn, with 1,737 shares on the Bombay Stock Exchange (BSE) in the green, 2,447 shares in the red, and 158 shares remaining unchanged.
During the session, the rupee showed some strength against the dollar, attributed to a positive atmosphere following a trade deal with the United States.
Jatin Trivedi, a research analyst at LKP Securities, noted that the rupee appreciated by 0.20 paise, or 0.22%, to 90.30 against the dollar. This rise is linked to the dollar’s weakness and a decrease in commodity prices. Additionally, the trade deal between the U.S. and India has contributed to the rupee’s strength.
He further mentioned that the future movement of the rupee against the dollar will depend on the Reserve Bank of India’s monetary policy, which is expected to be announced on Friday.