Sensex, Nifty Pare Early Gains, Close Weak On Profit Taking

RTTNews | 148 days ago

(RTTNews) - After opening on a strong note and staying reasonably firm till a little past mid-morning, Indian stocks turned weak on Thursday as investors chose to take some profits, cashing in recent gains.

Optimism about U.S. and Iran agreeing to a peace deal later this week supported the market early on in the session.

The BSE benchmark Sensex, which opened with a strong positive gap at 78,677.56 and advanced to 78,730.32, dropped to a low of 77,674.93 around mid-afternoon and eventually ended the session at 77,988.68, recording a loss of 122.56 points or 0.16%.

The National Stock Exchange's Nifty50 settled lower by 34.55 points or 0.14% at 24,196.75, retreating from a high of 24,400.95 it touched in early trades.

HDFC Bank drifted down by 1.75%. Titan shed 1.4%, while Mahindra & Mahindra, Bharti Airtel, Kotak Bank, Bajaj Finance, Hind Unilever and Indigo lost 0.6%-1%.

Trent climbed up 2.81%. Eternal and Adani Ports closed higher by 2.5% and 2.3%, respectively. BEL ended 1.8% up, while Infosys, Larsen & Toubro, Tata Steel and Tata Consultancy Services gained 0.9%-1.1%. Asian Paints, UltraTech Cement, Tech Mahindra and Bajaj Finserv posted modest gains.

Wipro edged up marginally ahead of earnings announcement. HDFC Life drifted lower by 1.4% with investors looking ahead to the company's earnings update.

ONGC, HDFC Life, Bharti Airtel, Apollo Hospitals Enterprises, Grasim Industries and Coal India ended weak.

Nifty stocks Adani Enterprises rallied more than 3% and Hindalco climbed 2.85%. Tata Consumer Products and Cipla posted modest gains.

HDB Financial Services gained 6.5%. The non-banking finance company reported a 41.4% jump in earnings after tax to ?751 crore for the quarter ended March 31, 2026, up from ?531 crore in the same period last year.

ICICI Lombard General Insurance Company reported a 7.25% YoY increase in net profit to ?547 crore for the quarter ended on March 31, up from ?510 crore in the corresponding period last year. The stock gained nearly 1.5%.

The market breadth remained fairly strong. On BSE, 2,808 stocks closed higher. 1,539 stocks ended weak, while 157 stocks settled flat.

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