Stock Market Extends Losses: Sensex Falls 688 Points, Nifty Slips Below 25,200

Stock Market: In Thursday's trading session, the Indian stock market closed lower amid broad-based selling across key sectors

Stock Market Today

Source : ABPLIVE AI

The Indian stock market ended in the red on Friday, weighed down by weak global cues and persistent selling across sectors. The BSE Sensex fell 688.26 points, or 0.83 per cent, to settle at 82,502.02 (indicative close), while the NSE Nifty declined 205.40 points, or 0.81 per cent, to close at 25,149.85. Investor sentiment remained cautious amid concerns over global economic growth, inflationary pressures, and uncertain interest rate trajectories.

Market breadth remained negative with 1,510 stocks advancing, 2,341 declining, and 150 remaining unchanged. Among the Nifty constituents, the top losers included TCS, Bajaj Auto, M&M, Hero MotoCorp, and Wipro. On the flip side, HUL, SBI Life Insurance, Kotak Mahindra Bank, Axis Bank, and IndusInd Bank emerged as the top gainers.

Sectorial Update

The BSE Midcap and Smallcap indices each declined by 0.6 per cent. Sectorally, apart from FMCG and pharma—which gained 0.5 per cent and 0.7 per cent respectively—all other indices closed in the red. Auto, IT, media, oil & gas, consumer durables, capital goods, realty, and telecom sectors each slipped around 1 per cent.

Most sectoral indices ended deep in the red, with Nifty IT emerging as the biggest laggard, plunging 1.8 per cent. It was followed by Nifty Media, which slipped 1.5 per cent, while Nifty Auto dropped 1.4 per cent. Nifty Realty and Nifty Infrastructure also declined around 1 per cent each.

In contrast, Nifty Pharma rose 0.9 per cent and Nifty FMCG added 0.7 per cent, managing to defy the broader negative trend.

The sharp decline in the IT index was largely attributed to weak earnings and subdued commentary from TCS. The company reported a 6 per cent year-on-year rise in net profit to Rs 12,760 crore for the June quarter, supported by higher non-core income. However, revenue growth was tepid, with rupee revenue increasing by just 1.3 per cent to Rs 63,437 crore and a decline of over 3 per cent in constant currency terms, impacted by adverse market conditions and the winding down of the BSNL project.

Previous Trading Session

In Thursday's trading session, the Indian stock market closed lower amid broad-based selling across key sectors. The BSE Sensex fell by 344.66 points (0.41 per cent) to settle at 83,191.42, while the NSE Nifty slipped 120.85 points (0.47 per cent) to end at 25,355.25. Investor sentiment remained muted, weighed down by persistent global market volatility and ongoing concerns over inflation and interest rate outlooks. Additionally, weak cues from Asian markets and profit-booking in heavyweight stocks contributed to the downward pressure.

(more to come)