Indian Shares End Marginally Lower After Strong Rally

(RTTNews) - Indian shares fell slightly on Thursday after posting strong gains in the previous session following reports that the U.S. and Iran are close to reaching a deal to end their conflict.

The benchmark BSE Sensex slipped 114 points, or 0.15 percent, to 77,844.52, while the NSE Nifty index finished 4.30 points lower at 24,326.65.

Both the indexes jumped around 1.2 percent each on Wednesday after U.S. President Trump temporarily suspended "Project Freedom" in order to resume peace negotiations with Iran.

Trump said he has had "very good talks" with Iran over the past 24 hours and it is "very possible" that there will be a deal before his scheduled trip to China next week.

At the same time, Trump threatened to resume bombardment if negotiations fail apart.

Media reports suggested that U.S. and Iranian diplomats are working on an agreement to restart negotiations and establish a framework for opening the Strait of Hormuz.

The BSE mid-cap and small-cap indexes jumped 1 percent and 1.1 percent, respectively - outperforming their larger peers.

The market breadth was strong on the BSE, with 2,738 shares rising while 1,516 shares rose and 169 shares closed unchanged.

While Bajaj Finance, Adani Ports, ITC, Sun Pharma, Titan Company, Tech Mahindra, TCS and Hindustan Unilever fell 1-2 percent, Kotak Mahindra Bank, NTPC and Mahindra & Mahindra rallied 1-2 percent.

Bharat Forge soared 6.2 percent after the auto and engineering major reported strong quarterly results and issued upbeat FY27 growth guidance.

Real estate developer Brigade Enterprises slumped 4.6 percent as it reported a 23 percent fall in its March quarter net profit.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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