Sensex drops 315 pts as 7-day winning streak snaps

The markets in India ended lower on Thursday, pulled down by Reliance Industries and financial sector stocks,though optimism around foreign inflows and easing U.S.-China tensions provided some support to sentiment. At close, the Sensex was down 315.06 points or 0.39 percent at 79,801.43, and the Nifty was down 82.25 points or 0.34 percent at 24,246.70. About 1869 shares advanced, 1921 shares declined, and 144 shares unchanged.
IndusInd Bank, UltraTech Cement, Grasim Industries, Tata Motors, Dr Reddy's Labs were the top gainers on the Nifty, while losers included HUL, Bharti Airtel, Eicher Motors, ICICI Bank, Eternal.On the sectoral front,FMCG, realty shed 1 percent each, while pharma index added 1percent.Broader indices outperformed the main indices with BSE midcap and smallcap indices ended on a flat note.
Rupee Close:
On 24 April'25,the Indian rupee gained 16 paise to close at 85.29 against the U.S. dollar on Thursday, on weak greenback and overnight decline in crude oil prices.Forex traders reportedly stated the rupee strengthened on the weak U.S. dollar and overnight decline in crude oil prices amid slowing U.S. business activity. The U.S. Treasury yields also declined with the 10-year yield falling 3 basis points to 4.35%.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,the domestic market witnessed mild profit booking after the recent rally. Similarly, global markets too experienced selling pressure as the market participants scaled back the possibility of a quick resolution of tariff disputes between the US and China. FMCG majors’ Q4 results were weak, impacted by subdued volumes and margin pressure, which led the sector to underperform. However, benign input prices and improvement in urban & rural demand are expected to revive the sector, which is available at reasonable valuations. Market experts recommended six shares to buy-GMR Airports, Canara Bank, IFCI, MMTC, Suzlon Energy, and NFL.

(Business Correspondent)