The share market ended lower on Thursday, giving up intra-day gains as weakness in metal, financial, and pharma stocks weighed on sentiment amid mixed corporate earnings and cautious positioning ahead of global events.The benchmark Nifty 50 fell 87 points, or 0.35%, to close at 24,768, slipping below the psychological 24,800 mark after briefly reclaiming levels above 24,900 earlier in the session. The S&P BSE Sensex dropped 296 points to settle at 81,186.
The broader market underperformed, with the Nifty Midcap 100 index declining 0.9% to 57,401. The Nifty Bank index lost 189 points to 55,962. Market breadth remained weak with the advance-decline ratio at 1:2, as 39 of the 50 Nifty stocks ended in negative territory.
Metal stocks led the decline, with Adani Enterprises and Tata Steel falling 3% each. Tata Steel extended losses after cautious commentary from management on its June-quarter earnings. Ambuja Cements fell 4% and Vedanta 2% following their results.
In the financial space, IIFL Finance slumped 6% after the company raised its credit cost guidance for FY26. Cholamandalam Investment declined 3% after reporting earnings that missed analyst estimates.Among other major movers, Sun Pharma shed 2% despite reporting in-line results, as higher R&D costs weighed on margins. Aarti Industries, Birlasoft, and Hindustan Copper dropped around 6% each following their exit from the F&O segment.
The broader market underperformed, with the Nifty Midcap 100 index declining 0.9% to 57,401. The Nifty Bank index lost 189 points to 55,962. Market breadth remained weak with the advance-decline ratio at 1:2, as 39 of the 50 Nifty stocks ended in negative territory.
Metal stocks led the decline, with Adani Enterprises and Tata Steel falling 3% each. Tata Steel extended losses after cautious commentary from management on its June-quarter earnings. Ambuja Cements fell 4% and Vedanta 2% following their results.
In the financial space, IIFL Finance slumped 6% after the company raised its credit cost guidance for FY26. Cholamandalam Investment declined 3% after reporting earnings that missed analyst estimates.Among other major movers, Sun Pharma shed 2% despite reporting in-line results, as higher R&D costs weighed on margins. Aarti Industries, Birlasoft, and Hindustan Copper dropped around 6% each following their exit from the F&O segment.
On the upside, Hindustan Unilever Ltd (HUL) was the top Nifty gainer, rising over 3% after posting a stable performance in Q1. Jio Financial Services also gained 3% after announcing a preferential share issue to the promoter.
Shares of Kaynes Technology surged 10% after the company provided a strong outlook for FY26. IndiGo climbed 3% despite missing profit estimates for Q1, as investors took comfort in the company’s positive commentary on forward bookings and fleet expansion.
Maruti Suzuki ended flat after reporting steady quarterly results led by strong export performance.
