Closing Bell: Indian Indices closed in red, Nifty settled below 19,400, Sensex below 64,850, Realty and Auto shines

The benchmark equity indices ended Thursday’s trading session in the negative territory. The NSE Nifty 50 dropped 48.20 points or 0.25% to settle at 19,395.30, while the BSE Sensex shed 143.41 points to 64,832.20. Whereas Bank Nifty index gained 24.95 points or 0.06% to settle at 43,683.60

The broader indices ended largely in the red, with losses led by Nifty Next 50 and Smallcap stocks. FMCG and Oil & Gas stocks led the losses among the other sectoral indices while Realty and Auto stocks added gains.

“Reflecting the mixed global sentiments, the Indian market is mired to a range bound trend with the Nifty index not able to breach above the key level of 19,500. Cues from the Fed Chair’s speech have reduced the likelihood of a rate hike in the near term, leading to an ease in US treasury yields and calming the market,” Said Vinod Nair, Head of Research, Geojit Financial Services.

Nair also said, FIIs selling has moderated but inflows continue to be muted on concerns of an elevated interest rate and a global slowdown. Mid- and small caps are back in favour after the recent fall, led by retail activities & good corporate results.

The volatility index (India Vix) ended down 0.49%.