Market Overview
The Indian equity market saw a pullback on Thursday, ending its 7-day rally. The BSE Sensex dropped 237 points or 0.30%, settling at 79,880, while the Nifty 50 slipped 78 points or 0.32% to close at 24,250.
The decline was largely led by heavyweight Reliance Industries and banking counters, which dragged market sentiment despite ongoing foreign inflows and global trade optimism.
Key Market Movers
Losers
Top laggards from the Sensex pack included:
- Eternal: Fell sharply following the resignation of its food delivery CEO, Rakesh Ranjan.
- Bharti Airtel
- ICICI Bank
- HDFC Bank
- Kotak Mahindra Bank
- Reliance Industries
These stocks dropped by up to 1.5% in early trade.
Gainers
On the positive side, the following stocks posted early gains:
- Tech Mahindra
- IndusInd Bank
- Bajaj Finance
- Tata Motors
- Titan
Sectoral Performance
Most sectoral indices opened in the red:
- Nifty Financials
- Auto
- Metal
- Realty
- Oil & Gas
However, Nifty Pharma and PSU Banks saw mild gains, providing slight support to overall market sentiment.
Company Update: Eternal
Eternal shares led the losses after the resignation of CEO Rakesh Ranjan, who headed the food delivery business. This came amid reports of declining market share. Founder Deepinder Goyal will oversee operations until a new head is appointed.
Global Market Influence
- The market received mixed signals from global cues.
- U.S. Treasury Secretary Scott Bessent hinted that high tariffs with China are “unsustainable”, suggesting a possible de-escalation in trade tensions.
- This potential easing helped cushion fears of a recession and somewhat supported investor sentiment.
Across Asia:
- MSCI Asia-Pacific (ex-Japan) fell 0.4%
- Nikkei rose 1%
- CSI300 (China) up 0.24%
- Hang Seng Index (Hong Kong) fell 0.7%
FII Activity
Foreign investors continued their buying spree:
-
FPIs bought shares worth ₹3,333 crore (approx. $389.7 million) on Wednesday, according to provisional data.
Commodity Watch: Crude Oil & Currency
Crude Oil
- Brent Crude rose $0.06 (0.09%) to $66.18/barrel
- WTI Crude gained $0.07 (0.11%) to $62.34/barrel
Currency
- The Indian rupee weakened by 15 paise, trading at ₹85.6/USD.
- The Dollar Index slipped 0.13% to 99.71.
Summary
In today’s Sensex and Nifty news, Indian equities hit pause after a robust seven-day climb. Index giants like Reliance and major banking names dragged indices lower, even as positive global cues and foreign investor confidence provided support.
While global trade tensions appear to be easing, domestic investors remain cautious, especially amid sector-specific uncertainties and leadership exits in key companies.
With mixed signals from global markets, oil fluctuations, and currency movements, the market may continue to witness short-term volatility.
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