Indian equity markets traded mixed in afternoon trading on Thursday, with the benchmark Sensex at 80,061.23, down 20.75 points or 0.03 per cent, while the Nifty50 declined 30.85 points or 0.13 per cent to 24,404.65 at 12.31 PM.
Banking and financial stocks provided support to the market, with the Nifty Bank index gaining 0.70 per cent to 51,599.20 and the Financial Services index up 0.64 per cent at 23,904.50.
FMCG major Hindustan Unilever led the losses, plunging 6.68 per cent following weak quarterly results. Other major decliners included Hindalco, dropping 4.76 per cent, SBI Life falling 4.48 per cent, Nestle India declining 3.66 per cent, and Bajaj Auto shedding 2.97 per cent.
Among gainers, UltraTech Cement topped the list, rising 2.06 per cent, followed by HDFC Bank gaining 1.44 per cent. Grasim and M&M advanced 1.13 per cent each, while Shriram Finance added 1.12 per cent.
Market breadth remained negative, with 2,160 stocks declining compared to 1,618 advances on the BSE. 214 stocks hit their upper circuit while 270 touched their lower circuit limits. The session saw 114 stocks reaching 52-week highs and 79 touching 52-week lows.
The broader markets showed similar weakness, with the Nifty Next 50 declining 0.12 per cent to 70,802.65 and the Nifty Midcap Select index dropping marginally by 0.02 per cent to 12,541.35.
Foreign institutional investors continued their selling streak in October, having withdrawn ₹93,088 crore from Indian equities, citing high valuations compared to other Asian markets.
The market sentiment remains cautious amid multiple headwinds, including weak quarterly earnings, rising U.S. bond yields, and global market volatility. Technical analysts note resistance for Nifty at 24,600 levels.
Trading activity remained moderate with 3,910 stocks being traded on the BSE as of 12.35 PM, as investors awaited more quarterly results and monitored global market cues.