Stock Market Today: Nifty, Sensex Extend Fall As Reliance Industries, Bharti Airtel Drag

The rupee closed at a record closing low of 83.98 against the US dollar. -The currency hit an all-time low of 83.99 during the day. It closed at 83.97 on Wednesday.

Source: Bloomberg

India's benchmark indices ended lower on Thursday as heavyweights Reliance Industries Ltd. and Bharti Airtel Ltd. weighed. The NSE Nifty 50 extended fall for the second day to end 0.21% or 53.60 points lower at 25,145.10, while the BSE Sensex declined by 151.48 points, or 0.18%, to close at 82,201.16.

"Sector rotation and defensive play like on consumption has picked up in the last couple of days. Staples and retail have been benefitting from the growth," said Siddharth Khemka of Motilal Oswal Financial Services Ltd. Shares in the FMCG and consumer durables space were in green.

Stock of the day Zomato Ltd. ended nearly 5% higher after JPMorgan raised its target price, citing food delivery platform's significant strides in the quick commerce sector and its ambitious expansion plans. The brokerage has also retained its 'overweight' rating on the company.

India has surpassed its rival China to secure the largest weighting in the MSCI EM investable market index, and is poised to surpass its neighbor as the largest emerging market. The country's rising weight in a key emerging market index would draw more absolute foreign flows, according to Morgan Stanley.

On the listing front, Raymond Lifestyle Ltd. was locked in a 5% lower circuit after a stellar market debut on Thursday. Shares of the company listed at Rs 3,000 apiece on the BSE on Thursday, a premium of 99.5% over its base price of Rs 1,503.3 per share.

Shares of RIL, Bharti Airtel, and Larsen & Toubro Ltd. contributed the most to the losses in the Nifty.

Titan Ltd., ITC Ltd., Infosys Ltd. and HDFC Bank Ltd. advanced the most.

Broader indices outperformed the benchmarks. The BSE Midcap closed 0.27% higher and BSE Smallcap ended 0.56% up.

Ten of the 20 sectoral indices on the BSE ended lower and 10 advanced. The BSE Realty fell the most.

The market breadth was skewed in the favour of buyers. Around 2,260 stocks rose, 1,667 fell, and 111 remained unchanged on the BSE.

• After a higher open, Nifty extended fall to second consecutive session and Sensex to a third

• Nifty ends 0.21% or 53.60 points lower at 25,145.10

• Sensex ends 0.18% or 151.48 points down at 82,201.16

• Intraday, Nifty rose as much as 0.30% to 25,275.45 and Sensex added as much as 0.32% to hit a high of 82,617.49

• Broader indices outperformed; Nifty Midcap 100 ended 0.34% higher while Nifty Smallcap 250 closed 0.96% up.

• Most sectoral indices ended mixed; Nifty Media was the top gainer and Nifty Realty fell the most

• Titan Co. Ltd. and LTIMindtree were top Nifty gainers

• Cipla and Reliance were top losers among Nifty stocks

• Board approves 1:1 bonus issue

• Board approves increasing authorised share capital to Rs 50,000 crore from Rs 15,000 crore

Source: Exchange filing

Arm gets order from Israel Aerospace to supply Titanium cast components

Source: Exchange filing