Benchmark equity indices ended Thursday’s session lower, snapping a three-day winning streak as investors turned cautious and booked profits after the recent rally driven by optimism over the India–US trade deal. Weak global cues, especially a sell-off in technology stocks across international markets, further pressured domestic equities.

The S&P BSE Sensex declined 503.76 points to settle at 83,313.93, while the NSE Nifty50 slipped 133.20 points to close at 25,642.80. Market participants adopted a risk-off approach amid concerns over global tech valuations and escalating US–Iran tensions, which added to uncertainty across global markets.

According to Vinod Nair, Head of Research at Geojit Investments Limited, markets entered a consolidation phase after a sharp rally in recent sessions. He noted that while optimism around trade agreements supported sentiment earlier, profit booking at higher levels was inevitable. He added that global factors played a key role, with metals and small-cap stocks emerging as the worst performers during the session.

On the Sensex, Trent Ltd emerged as the top gainer, rising nearly 3%, followed by gains in Tata Steel, State Bank of India, Bajaj Finance and Adani Ports. However, losses in stocks such as Eternal Ltd, Bharti Airtel, Bharat Electronics, ITC and ICICI Bank dragged the indices lower.

Broader markets also reflected cautious trading as investors stayed on the sidelines ahead of key macro triggers. Attention is now shifting to the upcoming RBI monetary policy meeting, where expectations remain tilted towards a pause in interest rates, supported by India’s relatively strong economic growth outlook.

Overall, Thursday’s decline appears to be a healthy correction rather than a trend reversal, with experts maintaining a positive medium-term outlook while advising caution in the near term amid global volatility.