Sensex, Nifty close lower ahead of inflation data announcement

The benchmark indices, Sensex and Nifty, ended lower on Thursday due to strong selling pressure on key stocks like Reliance Industries, L&T, and Hindustan Unilever, as investors adopted a cautious stance ahead of the upcoming inflation data release.

The 30-share BSE Sensex dropped by 236.18 points, or 0.29%, to close at 81,289.96. During the session, it had slipped by as much as 314.5 points, touching a low of 81,211.64. Meanwhile, the NSE Nifty lost 93.10 points, or 0.38%, closing at 24,548.70.

Among the 30 Sensex stocks, NTPC, Hindustan Unilever, Tata Motors, Maruti, Larsen & Toubro, Reliance Industries, Asian Paints, and State Bank of India were the biggest losers. On the other hand, Bharti Airtel, IndusInd Bank, Tech Mahindra, Infosys, Adani Ports, and Tata Consultancy Services were among the top gainers.

In the broader market, Asian indices including Seoul, Tokyo, Shanghai, and Hong Kong finished in the green. European markets were showing mixed results, while Wall Street had closed mostly higher in overnight trade on Wednesday.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,012.24 crore on Wednesday, according to data from the exchange.

On the commodities front, global oil prices rose slightly, with Brent crude climbing by 0.30% to USD 73.74 per barrel.

On Wednesday, the Sensex had managed to edge up by 16.09 points, or 0.02%, to close at 81,526.14, while the Nifty rose by 31.75 points, or 0.13%, to settle at 24,641.80.