Sensex, Nifty snap 5-day winning streak, fall over 1% each; IndiGo slips 4%

Domestic equity benchmarks BSE Sensex and NSE Nifty snapped their five-day winning streak on Thursday, weighed down by rise in crude oil prices amid concerns over violations of the US-Iran ceasefire.

At close, the Sensex declined 931.25 points, or 1.20 per cent, to close at 76,631.65, while the Nifty slipped 222.25 points, or 0.93 per cent, to settle at 23,775.10. 

Ceasefire-led optimism faded as renewed US-Iran tensions and ongoing restrictions at the Strait of Hormuz pushed crude prices higher, reviving concerns about India's inflation, said Vinod Nair, Head of Research, Geojit Investments Ltd.

“Domestically, profit booking, rising 10-year bond yields, and rupee weakness reduced near-term risk appetite. Financials led the decline after the previous session's sharp rally amid sustained FII selling, while broader markets held relatively steady,” said Nair.

Top gainers & losers

Among Sensex constituents, InterGlobe Aviation (IndiGo) emerged as the top loser, falling 3.63% to Rs 4449. Larsen & Tuobro (L&T) followed with a 2.88% decline, while Eternal, HDFC Bank, Kotak Mahindra Bank and ICICI Bank fell 2.57%, 2.13%, 2.13% and 1.97%, respectively. 

While Bharat Electronics (BEL), NTPC and TCS were among gainers on the 30-pack index, which rose up to 1.39%. 

Five stocks, namely HDFC Bank, ICICI Bank, L&T, Reliance Industries and SBI, contributed largely to the Sensex’s fall.  

Among sectoral indices, the BSE Bankex slipped 1.58% to settle at 61,710.92, while the BSE Auto index declined 0.37% to close at 57,143.76.