The Indian stock market ended on a mixed note on Thursday, following a positive session the previous day. Despite weak global cues, the benchmark indices showed resilience, with the Sensex rising 273.55 points (0.35%) to close at 77,928.15, and the Nifty 50 gaining 0.27% to finish above the 24,300 mark at 24,317.15. However, the Bank Nifty declined by 58.40 points (0.10%) to settle at 57,147.50, while the India VIX rose by 1.23%.
Market sentiment was influenced by the US Federal Reserve’s decision to hold interest rates at 3.50%-3.75%, which led to cautious trading. Additionally, rising oil prices—driven by US airstrikes against Iran and the ongoing Middle East tensions—added to investor uncertainty. Brent crude futures gained 1.5% to $92.10 per barrel, and US West Texas Intermediate futures advanced 0.9% to $85.23 per barrel.
Top Gainers and Losers
Selective buying was observed in automobile, mining, and manufacturing stocks. Mahindra & Mahindra emerged as the top gainer, rising 2.26%, followed by Maruti Suzuki, Coal India, Eicher Motors, and TVS Motor. On the downside, Adani Ports led the losses, falling 3.38%, while HDFC Life, Shriram Finance, Jio Financial Services, and SBI Life Insurance also traded lower as investors booked profits in financial and insurance stocks.
Key Market Drivers
The benchmarks rose on buying in select heavyweights, but mid- and small-cap segments witnessed profit booking after the Fed’s rate decision. Expectations are growing that the central bank may raise rates in September due to inflation risks from the Middle East conflict. Three out of 12 Fed policymakers voted in favor of a rate hike on July 29. The rupee closed at 95.68 per US dollar, little changed from the previous session’s 95.6475.
Overall, the Indian stock market ended on a mixed note, with gains in auto and mining stocks supporting the indices, while persistent global uncertainties and geopolitical tensions kept investor sentiment cautious.
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