- The benchmark indices Sensex and Nifty traded lower on Thursday, weighed by selling in FMCG and auto shares and persistent geopolitical uncertainty.
- At around 11 am, the Sensex was down 198.11 points or 0.26 percent at 77,274.83, while the Nifty declined to 24,158.70, down 49.05 points or 0.2 percent.
- Selling pressure was seen in auto and FMCG shares, with the Nifty Auto index down 0.43 percent and the Nifty FMCG index declining 0.6 percent.
- United Spirits and TVS Motor Company were among the top losers, declining up to 3 percent.
- The India VIX, a gauge of expected market volatility, rose nearly 4 percent to 10.94, indicating greater uncertainty and caution among investors.
- Asian markets, including Japan's Nikkei 225 and Hong Kong's Hang Seng, traded lower, and US markets ended in negative territory on Wednesday.
The Sensex and Nifty indices experienced significant declines on Thursday, with the Sensex falling 198.11 points to close at 77,274.83 and the Nifty dropping 49.05 points to 24,158.70.
Geopolitical uncertainty and selling pressure in FMCG and auto shares were major contributors to the downturn.
The Nifty Auto index fell by 0.43 percent and the Nifty FMCG index declined by 0.6 percent, reflecting the broader market sentiment.
Notable losers included United Spirits and TVS Motor Company, which saw declines of up to 3 percent.
The India VIX, a measure of expected market volatility, rose nearly 4 percent to 10.94, indicating increased caution among investors.
Asian markets mirrored this trend, with Japan's Nikkei 225 and Hong Kong's Hang Seng also trading lower, while US markets ended in negative territory on Wednesday.
Amidst this backdrop, ICICI Prudential AMC saw a decline of 3.7 percent after its promoter, British insurer Prudential Plc, announced plans to sell up to 2 percent of its stake to meet public shareholding requirements.
“The India VIX rose nearly 4 percent to 10.94, signaling heightened investor caution. United Spirits and TVS Motor were among top losers, declining up to 3 percent, while ICICI Prudential AMC fell 3.7 percent on promoter stake sale plans.”
