Indices turned red amid negative global signals, with Sensex shedding 0.84% ​​and Nifty 0.75%

The Indian stock market closed in the negative, with the IT sector contributing to the losses, amid negative global cues. The Nifty 50 fell by 130 points to close at 17,321, while the S&P BSE Sensex declined by 500 points, closing below 59,000 at 58,909. Adani Enterprises and Adani Ports were among the top gainers in the Nifty 50, with Coal India ending up 2%. However, Maruti and Axis Bank shed 2% each, followed by TCS, SBI Life, and Infosys. Most of the sectoral indices ended in the red, with the IT sector shedding more than a per cent. Meanwhile, global stock markets also declined due to the risk of a more hawkish U.S. Federal Reserve and concerns about rising prices. European shares opened lower on Thursday, impacted by declines in travel and rate-sensitive technology stocks, while Hong Kong stocks slipped due to Sino-U.S. tensions.