Mumbai, Sep 2026 : Benchmark equity indices ended lower on Thursday after giving up gains recorded earlier in the session, as investors remained cautious over the inflation outlook amid rising crude oil prices and movements in bond yields that heightened concerns about interest rates staying elevated.
The BSE Sensex declined 417.49 points, or 0.55 per cent, to settle at 76,152.86, while the NSE Nifty fell 41 points, or 0.17 per cent, to close at 23,873.45.
Market sentiment remained subdued as investors assessed the potential impact of higher crude oil prices on inflation and the broader interest-rate outlook. Rising bond yields also added to concerns that monetary conditions could remain tight for longer, limiting the scope for near-term rate cuts.
Analysts said the Nifty continues to face resistance around the psychologically important 24,000 level. On the downside, the 23,800 mark has emerged as an immediate and crucial support zone.
“The 24,000 psychological mark remains the crucial resistance zone,” an analyst said, while noting that the 23,800 region would remain important for determining the index’s near-term direction.
Market experts said the index had so far managed to hold above the support level. However, a decisive break below 23,800 could intensify selling pressure and potentially drag the Nifty towards the 23,600 level.
Among the major Nifty constituents, Bajaj Auto, Tech Mahindra and Trent were among the biggest laggards, weighing on the benchmark index and contributing to the overall weakness in the market.
Despite the decline in the headline indices, broader markets displayed relative resilience. The Nifty MidCap index gained 0.37 per cent, while the Nifty SmallCap index advanced 1.2 per cent, indicating continued investor interest in select mid- and small-cap stocks.
Sectoral performance remained mixed during the session. The Nifty Realty index emerged as the biggest underperformer, declining more than 2 per cent. The Nifty Media, Nifty Private Bank, Nifty PSU Bank and Nifty Bank indices also ended in negative territory.
The Nifty IT, Nifty Auto, Nifty FMCG and Nifty Healthcare indices also remained weaker compared with the broader market.
Experts said the session reflected persistent caution among investors, with market participants balancing concerns over higher oil prices and inflation against expectations for the future trajectory of interest rates.
In the currency market, the rupee remained relatively strong at 94.48 against the US dollar. Improved dollar liquidity, supported by FCNR deposits of around $127 billion, was seen providing an additional buffer against sharp currency movements and helping prevent a rapid depreciation in the rupee.
Analysts expect the rupee to retain a positive bias in the near term, with the currency projected to trade within a range of 94.25 to 95.00 against the dollar.
(Disclaimer :The content of this article is sourced from a news agency and has not been edited by the Mavericknews30 team.)
