MUMBAI - Indian stock indices Sensex and Nifty ended Thursday's session nearly unchanged, as gains in the auto sector were offset by underperformance in pharmaceuticals and other areas. The BSE Sensex closed marginally lower at 66,017.81, while the NSE Nifty ended the day at 19,802.
Auto stocks drove the market, with Hero MotoCorp (NS: HROM ), Bajaj Auto (NS: BAJA ), and Eicher Motors (NS: EICH ) leading the gains. In contrast, Cipla (NS: CIPL ), Ultra Tech Cement, and SBI Life Insurance (NS: SBIL ) lagged behind. The broader market saw a positive finish with BSE SmallCap up by 0.44%, MidCap rising by 0.15%, and BSE 500 index increasing by 0.07%.
The Indian rupee weakened slightly to close at ₹83.34 against the dollar amidst foreign institutional investor outflows and a downtrend in local equities. However, crude oil prices fell over 1%, which helped cushion the rupee's decline despite equity market challenges.
In corporate news, IDFC First Bank (NASDAQ: FRBA )'s shares saw an uptick after the company approved stock options for its employees. Additionally, Lupin (NS: LUPN )'s pharmaceutical profile was strengthened by U.S. FDA approvals for its generic drugs.
Corporate restructuring also made headlines as the National Company Law Tribunal (NCLT) Mumbai bench approved an amalgamation scheme involving Samvardhana (NS: SAMD ) Motherson International Ltd.
Meanwhile, the retail sector saw Shoppers Stop (NS: SHOP ) shares edge higher following an executive departure, and Mphasis (NS: MBFL ) remained steady after approving employee stock options and restricted stock units.
In terms of new offerings, Sudarshan Chemical (NS: SDCH ) introduced a new product to the market. The initial public offering (IPO) landscape was active with Gandhar Oil Refinery attracting a high subscription rate of 12.60 times by its closing date.
Easy Fincorp announced the reappointment of its CFO, which led to a share price increase. Mukta Arts experienced a surge following plans for overseas business expansion.
In financial regulatory news, recent changes by the Reserve Bank of India (RBI) are expected to impact unsecured consumer credit growth, according to analysis from Fitch Ratings.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.