Indian Stock Indices Dip as Pharma Surges to Record High, US Markets Decline
Indian stock indices experienced a slight decline throughout Thursday, following a fluctuation between gains earlier in the trading session. As of 12:10 a.m., the S&P BSE Sensex dropped by 195.98 points, or 0.30%, settling at 65,586.80, while the NSE Nifty 50 decreased by 50.5 points, or 0.26%, ending at 19,476.05.
Despite the overall dip, the pharmaceutical and media sectors showed positive growth, while the realty sector encountered some challenges. Notably, Nifty Pharma saw a remarkable surge of 2.07% to reach a record high of 15,253.20 points.
Meanwhile, Asian shares fell for the third consecutive day, reflecting the losses seen in Wall Street. The better-than-expected U.S. labor-market data prompted speculation that the Federal Reserve would maintain its tight policy for a longer duration. European equity futures experienced a slight decline, while U.S. contracts traded mostly flat after the S&P 500 marked its worst day in three months.
The S&P 500 suffered a 1.4% decline on Wednesday, which was its lowest point since April. This decline paused a recent rally, driven in part by investor demand for artificial intelligence stocks. In line with the overall downtrend, the Nasdaq 100 fell by 2.2%, and Qualcomm Inc. experienced a slide in late Wednesday trading due to a tepid revenue forecast.
Overall, the Indian stock market showed a marginal decline as the pharmaceutical sector reached new heights. The international markets, however, faced setbacks amid concerns over the Federal Reserve’s policy decisions and the performance of certain technology stocks. Investors will continue to closely monitor these developments in the days ahead.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice.
