Market Wrap: Benchmarks Ease from Day’s Peak

Indian equity markets closed marginally lower after failing to sustain intraday highs, as selective profit-taking and overseas investor selling weighed on sentiment. Sensex: Closed at 85,408.70, down 116 pts (-0.14%) after moving between 85,738 and 85,342 Nifty: Ended at 26,142.10, down 35 pts (-0.13%), settling below the 26,150 mark Key Reasons for the Decline 1) Continued FII Outflows Foreign investors remained net sellers for the second straight session, trimming market confidence after a brief buying streak earlier in the week. 2) Sector-Specific Profit Taking Gains were booked in pockets such as IT, pharmaceuticals, and oil & gas, dragging frontline indices. Select large-cap pharma and IT stocks slipped up to 1%. 3) IT Sector Under Pressure Technology stocks weakened following changes to the US H-1B visa framework, which now prioritizes higher-paid and skilled workers instead of a lottery-based system. This marked the second consecutive down session for IT stocks after a recent rally. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.