Market on Thursday | Nifty below 24,800 despite mid-day recovery as expiry, Trump tariff play out
Benchmark indices ended in the red, unable to sustain the mid-day recovery following a weak start, with Nifty 50 closing below the 24,800 level as markets assessed the broader impact of Trump’s tariff and penalty.
The last-hour selling came on monthly expiry, dragging the Nifty 50 lower. At close, the Sensex was down 296.28 points or 0.36 percent at 81,185.58, and the Nifty was down 86.70 points or 0.35 percent at 24,768.35. For the month of July, Sensex and Nifty lost nearly 3 percent each. The BSE Mid and Smallcap indices shed 0.7 percent each, underperforming the main indices.
HUL, Jio Financial, Eternal, JSW Steel, ITC were among major gainers on the Nifty, while losers included Adani Enterprises, Dr Reddy’s Labs, Adani Ports, Tata Steel, Sun Pharma.
Among sectors, FMCG rose 1.4 percent, while IT, metal, oil & gas, PSU Bank, pharma, realty, telecom declined 0.5-1.8 percent.