Market Indices Reverse Trends Amid Profit-Taking and Disappointing Earnings

Equity benchmark indices Sensex and Nifty ended a seven-day rally with a decline on Thursday, impacted by profit-taking and subpar earnings from key companies like Hindustan Unilever. Selling pressure from global markets and key blue-chip companies contributed to the indices settling lower by 0.39% and 0.34%, respectively.

The Sensex and Nifty indexes concluded their week-long upward trajectory with losses on Thursday, influenced by profit-booking and lackluster quarterly earnings from companies such as Hindustan Unilever. The Sensex fell by 315.06 points, ending the day at 79,801.43, while the Nifty dropped 82.25 points to settle at 24,246.70.

Influential stocks like ICICI Bank, Bharti Airtel, and Hindustan Unilever saw declines, pressing the market further. Additionally, muted trends in Asian and European equity markets contributed to the negative performance. The decline came on the heels of a substantial rally over the past seven sessions for both indices.

Despite the day's downturn, certain sectors and stocks experienced gains. IndusInd Bank and UltraTech Cement were among those rising, suggesting sectoral resilience amid the broader market challenges. Meanwhile, external factors like the US-China trade tensions and pressures on margins influenced market dynamics.

(With inputs from agencies.)