Benchmark domestic equity indices dropped nearly 1% today. The Sensex fell 703 points to close at 76,848, while the Nifty slipped 208 points to settle at 23,843. Earlier, markets opened around 2% lower amid weak global cues after United States President Donald Trump announced a naval blockade of the Strait of Hormuz. However, as the session progressed, both indices pared their losses and recovered from the day’s lows, aided by value-buying.

 

In the Sensex pack, shares of 27 out of 30 companies ended in the negative zone. Among the top underperformers, Maruti slumped over 4.6%; Bajaj Finance as well as Indigo lost 2.8%; and Reliance dipped over 2.6%.  In contrast, ICICI Bank jumped nearly 2.2%, NTPC climbed more than 1.5%, and Axis Bank rose almost 0.2%.

 

Among the sectoral indices at the BSE, 22 out of 25 sectors logged losses. Among the top laggards, Auto plunged 2.1%; Energy, as well as Services, fell over 1.3%; and Oil and Gas dropped over 1.2%. Among the outperformers, Utilities surged almost 1.4%, Power rose 0.9%, and Telecommunications advanced almost 0.4%. 

 

The overall market breadth at the BSE was negative, as shares of 2,573 companies declined, 1,790 advanced, and 201 remained unchanged.