Market wrap: Cipla, ONGC, HDFC Life, Bajaj Finance top gainers and losers on Nifty and Sensex on Thursday

India’s benchmark stock indices retreated on Thursday, ending a two-day gaining streak as investors booked profits in key sectors. The BSE Sensex closed down 143.41 points, or 0.18%, at 77,337.59, while the NSE Nifty 50 index settled 41.90 points lower, also 0.18%, at 23,516.00.

Both indices opened lower and remained in negative territory for the majority of the session, though they managed to recover from their intraday lows before the closing bell. The market sentiment was marked by a clear divergence between large-cap stocks and the broader market.

Broader Markets Show Resilience

In contrast to the decline in the main indices, broader market segments demonstrated underlying strength. The BSE Midcap index gained 0.55%, and the Smallcap index rose by 0.44%. This performance suggests that investor appetite remains robust for companies outside the top-tier blue-chip names, indicating a potential rotation of capital into mid and small-capitalization stocks.

Sectoral Performance Diverges

A mixed sectoral performance characterized the day's trading. The Nifty Realty index was the standout performer, climbing 1.05%. Metal stocks also saw buying interest, with companies like Grasim Industries and Hindalco Industries among the top Nifty 50 gainers. However, these gains were offset by selling pressure in heavyweight sectors. The Nifty IT, Financial Services, and FMCG indices all ended the day in the red, weighing down the overall market.

Key Index Movers and Volatility

Among the top losers on the Nifty 50 were Hero MotoCorp, which fell 2.53%, followed by HDFC Life and Sun Pharma. On the Sensex, major drags included Sun Pharma, M&M, and HDFC Bank. On a positive note for market stability, the India VIX, a measure of expected volatility, fell by 2.27% to 13.08, suggesting that traders anticipate calmer market conditions ahead despite the day's pullback.