By Anjali Sharma
WASHINGTON – The stock market on Thursday erased all the intraday losses in the final hour of buying. Indices remained under pressure for the most part of the session.
Market faced initial pressure after Trump’s executive order raised tariffs on Indian goods to 50%.
Trump raised duties on Indian imports to 50%, triggering a sharp decline in major export-oriented sectors, including textiles, gems and jewellery, automobiles, and pharmaceuticals.
At close, the Sensex was up 79.27 points or 0.10% at 80,623.26, and the Nifty was up 21.95 points or 0.09% at 24,596.15. BSE Midcap index up 0.3% and the smallcap index ended on a flat note.
The sectors ended in green, barring Nifty Oil & Gas, which was down by 0.19% and Realty, down by 0.13%. Media was up 0.99%, IT up by 0.87% and Pharma up by 0.75%.
Nifty Bank climbed 0.20%, while the Financial Services index inched up by 0.12%.
Shares of several textile companies, including Kitex Garments, KPR Mill, and Alok Industries, declined sharply after US President Donald Trump announced an additional 25 percent tariff on Indian goods.
On Nifty50, around 31 stocks ended higher. Some of the key names were Hero MotoCorp, rising 4.27%, Tech Mahindra up by 1.99%, and JSW Steel up by 1.94%.
The top losers were Adani Enterprises, down by 2.36%, Adani Ports declined by 1.43%, and Grasim Industries declined by 0.86%. Nifty witnessed a roller-coaster session as the index oscillated between 24,350 and 24,650.
During the day, around 111 stocks hit their 52-week high, while in contrast, 161 stocks touched 52-week lows.
On the highs were Delhivery Ltd, Fortis Healthcare Ltd, Godfrey Phillips India Ltd, JK Cement Ltd, JSW Steel Ltd, Sarda Energy & Minerals Ltd, and TVS Motor Company Ltd.
Cohance Lifesciences Ltd, Five-Star Business Finance Ltd, Indian Energy Exchange Ltd, Ratnamani Metals & Tubes Ltd, and Tejas Networks Ltd. touched lows.
Shares of National Securities Depository Limited (NSDL) hit a new high of Rs 1,123, as they rallied 20%. Eternal Ltd, formerly known as Zomato, recovered from 3% lows to close over a percent higher.
