Sensex slips 114 points to 77,844, Nifty down 4 points
The Indian stock market closed a bit lower on Thursday, with the Sensex slipping 114 points to 77,844 and the Nifty down just four points at 24,326.
Both indexes started strong in the morning but couldn't hold onto their gains by the end of the day.
Auto healthcare and finance stocks gain
Auto, healthcare, and finance stocks managed to finish higher, while IT and FMCG shares lost ground.
Trent and HDFC Life were among top gainers; Kotak Mahindra Bank and Titan were notable losers.
Head of Research, Geojit Investments Limited Vinod Nair said mixed global signals and lower oil prices (thanks to possible U.S.-Iran talks) helped ease inflation worries a bit, but profit-taking and uncertainty around nuclear negotiations kept investors cautious.
Interestingly, mid-cap and small-cap stocks did better than bigger companies as traders picked their spots carefully.