Investor caution persisted amid geopolitical tensions, supporting gains in select safe-haven stocks.

Indian equities ended lower on Thursday, as weakness in financials, FMCG, and oil and gas stocks weighed on sentiment, despite broader markets outperforming slightly and select safe-haven names seeing buying amid geopolitical tensions.

The Nifty 50 ended down 152 points, or 0.6%, at 24,736, while the Sensex closed 525 points lower, or 0.6%, at 81,167.

The broader markets outperformed, with the Nifty Midcap index losing 0.3% and the Smallcap index ending nearly 0.7% lower.

Retail investor sentiment surrounding the Nifty 50 remained ‘bearish.’ 

Among sectors, capital goods eked out marginal gains, while financial services, oil & gas, and FMCG stocks led the drag, with the Nifty Financial Services index falling the most by 0.3%.

Nifty losers included HDFC Bank, ITC, Reliance Industries, and ICICI Bank, alongside BPCL and Hindustan Unilever, which also ended in the red.

Additionally, Gensol Engineering shares fell 2% after the National Company Law Tribunal’s (NCLT) Ahmedabad bench admitted the company into corporate insolvency proceedings. 

The move follows a petition by state-run IREDA, which alleged loan defaults totaling ₹510 crore.

Meanwhile, Kernex Microsystems India jumped 5% after announcing that its joint venture with VRRC secured two Letters of Acceptance (LoAs) from Southern Railways, Chennai, worth ₹311.03 crore. 

The orders include deployment of the Kavach train collision avoidance system across Chennai Division sections and related infrastructure. 

Kernex holds a 60% stake in the JV, and the projects are slated for completion in 730 and 540 days, respectively.

Manappuram Finance rose 3.3% to hit an all-time high, while Muthoot Finance added 1.9%, as escalating tensions between Israel and Iran prompted investors to seek refuge in safe-haven assets.

From a technical perspective, SEBI-registered analyst Ashish Kyal said Nifty 50 showed a sharp bounce from the 24,460–24,490 zone, which was tested following a gap-down move triggered by the Israel-Iran conflict. 

He noted that prices are once again respecting this prior support zone. 

As long as 24,460 remains intact, he believes dips toward 24,600 can be used as a buying opportunity, with the potential for a gap-filling move toward 24,820.

Meanwhile, SEBI-registered analyst Praveen Girotra said that Nifty 50 is so far holding above the previous week’s low, indicating a key support level remains intact.

European shares hit a three-week low after Israel struck Iranian nuclear and missile sites, prompting Iran to launch 100 drones in response.

Meanwhile, Dow futures pointed to a positive open on Wall Street.

For updates and corrections, email newsroom[at]stocktwits[dot]com.<