SENSEX and NIFTY50 trades in red dragged by LT and Bharti Airtel, Nifty Smallcap 100 hits a fresh lifetime high

After starting Thursday’s session on a positive note, the Indian benchmark indices failed to capitalise on the early gains, eventually losing ground due to the decline in shares of L&T and Bharti Airtel. The NIFTY50 index slipped 0.10%, falling below the 25,200 mark, more than 100 points from its intraday high of 25,275.45. Similarly, the SENSEX dropped by 350 points from its peak, trading 0.12% lower. Bucking the weak trend of the frontline indices, the Nifty Bank index was trading higher by 47 points, holding above the level of 51,400 level.

Shares of Reliance Industries were trading flat at ₹3,025 ahead of its board meeting, where the company is expected to consider and approve a bonus issue in a 1:1 ratio. This means, if approved, shareholders will get one additional share for every share they hold as of the record date.

On the sectoral front, Nifty Media (+1.35%) and Nifty Pharma (+0.59%), were the top gainers among the sectoral indices. On the other hand, Nifty Realty (-0.60%) and Nifty Auto (-0.29%), were top losers.

The broader markets displayed strong buying interest, outperforming the frontline indices. The Nifty Smallcap 100 surged over 1%, hitting a fresh record high, while the Nifty Midcap 100 gained by 0.39%. This outperformance of the broader markets led to a strong market breadth with 1,559 stocks advanced, while 768 stocks declined.