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Sensex, Nifty End Lower For The Second Straight Day: Market Wrap

The Sensex closed 194 points, or 0.31%, lower at 62,428.54, while the Nifty 50 declined 47 points, or 0.25%, to end at 18,487.75.

<div class="paragraphs"><p>The bull outside BSE. (Photo: Vijay Sartape/BQ Prime)&nbsp;</p></div>
The bull outside BSE. (Photo: Vijay Sartape/BQ Prime) 

India's benchmark stock indices ended down for the second straight day on Thursday, dragged down by losses in private banks and non-banking financial stocks including Kotak Mahindra Bank Ltd., Bharti Airtel Ltd., and ICICI Bank Ltd.

European stocks climbed after three days of declines, while US futures fluctuated after the House passed a deal to avert a US default and Federal Reserve officials hinted at a pause in interest-rate hikes. Miners and media companies led gains in the Stoxx Europe 600 index.

Passage of the debt ceiling deal struck by House Speaker Kevin McCarthy and President Joe Biden means the bill will be sent to the Senate days before the June 5 default deadline.

The advance in European stocks echoed a move higher in Asia, where markets got an initial boost from some encouraging economic data out of China. 

The S&P BSE Sensex closed 194 points, or 0.31%, lower at 62,428.54, while the NSE Nifty 50 declined 47 points, or 0.25%, to end at 18,487.75.

Sensex, Nifty End Lower For The Second Straight Day: Market Wrap

Kotak Mahindra Bank Ltd., ICICI Bank Ltd., Bharti Airtel Ltd., ITC Ltd., and Coal India Ltd. weighed on the Nifty 50.

TCS Ltd., Hindustan Unilever Ltd., Axis Bank Ltd., HDFC Ltd., and Apollo Hospitals Enterprise Ltd. were among the top gainers on the index.

Sensex, Nifty End Lower For The Second Straight Day: Market Wrap

The broader markets ended higher, with the S&P BSE MidCap rising 0.11% and the S&P BSE SmallCap gaining 0.61% at the close of market on Thursday.

Eleven out of the 20 sectors compiled by BSE advanced, while nine indices declined, with S&P Bankex declining the most.

The market breadth was skewed in favour of the buyers. About 2,080 stocks rose, 1,454 declined, and 127 remained unchanged on the BSE.

Sensex, Nifty End Lower For The Second Straight Day: Market Wrap