Stock Market Tanks For Third Straight Day; Sensex Closes 585 Points Lower, Nifty Below 24,600
Indian equity markets extended their losing streak for a second consecutive session, dragged down by widespread selling pressure
Indian equity benchmarks closed sharply lower on Friday, extending losses for the third straight session amid broad-based selling. The BSE Sensex declined by 584.98 points, or 0.72 per cent, to settle at 80,600.60. Meanwhile, the NSE Nifty dropped 203.00 points, or 0.82 per cent, ending the day at 24,565.35. Investor sentiment remained cautious ahead of key global economic data and ongoing concerns around interest rate outlooks.
The market breadth remained negative, with 1,264 stocks advancing, 2,582 declining, and 154 remaining unchanged on the BSE.
Among the top losers on the Nifty were Sun Pharma, Dr. Reddy's Laboratories, Adani Enterprises, Tata Steel, and Cipla. On the flip side, gainers included Trent, Asian Paints, Hero MotoCorp, Hindustan Unilever, and Nestle.
Barring FMCG, all sectoral indices closed in the red. Notable pressure was seen in auto, realty, pharma, IT, metal, oil & gas, PSU bank, and telecom, which fell between 0.5 to 2 per cent.
The broader markets also witnessed sharp selling, with the BSE Midcap index declining 1.3 percent and the Smallcap index losing 1.6 per cent.
Stock-Specific Action Highlights
In stock-specific moves, Maruti Suzuki slipped over 2 percent following its Q1 results, while Swiggy shares dropped 3 percent after reporting a weak quarterly performance. Neuland Labs declined 3 per cent as its consolidated profit for Q1 fell by a steep 85 per cent.
Chalet Hotels also ended 2 per cent lower despite posting a rise in consolidated profit. On the positive side, Suzlon Energy rallied 7 per cent after securing a fresh order. In contrast, PNB Housing Finance plunged 18 per cent after the resignation of its MD and CEO, and Niva Bupa Health fell 7 per cent as Q1 losses widened.
Also Read: Rupee May Slide To 88.5 Per Dollar As US Tariff Heat Builds: Report
Previous Trading Session Recap
Indian equity markets extended their losing streak for a second consecutive session, dragged down by widespread selling pressure. The Nifty slipped below the 24,800 mark, ending the day at 24,768.35 — a decline of 86.70 points or 0.35 percent. Similarly, the BSE Sensex dropped 296.28 points, or 0.36 percent, to close at 81,185.58. Market sentiment remained subdued, with the BSE recording 2,365 declining stocks against 1,490 gainers, while 135 stocks remained unchanged.
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