Market Wrap: Nifty and Sensex Tumble 1% Amid Broad-Based Selloff
Indian stock markets closed in the red, with Nifty 50 down 1.00% at 24,350.90 and Sensex falling 0.98% to 79,835.61. Trading and Transport sectors showed resilience, while Engineering Services and Aerospace & Defense faced significant pressure. Notable stocks included Ramkrishna Forgings, Bharti Airtel, and Hero MotoCorp. Market breadth was negative with 2,680 declining stocks versus 1,698 advancing.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets ended the trading session on a negative note, with both benchmark indices witnessing significant declines. The Nifty 50 closed at 24,350.90, down 245.25 points or 1.00% from the previous close. Similarly, the BSE Sensex finished at 79,835.61, shedding 787.65 points or 0.98%.
Sectoral Performance
The market witnessed a mixed bag of sectoral performances, with some sectors showing resilience while others faced substantial pressure.
Top Performing Sectors:
- Trading (Avg. Per Change: +2.30%)
- Transport (Avg. Per Change: +0.34%)
- Healthcare Services (Avg. Per Change: +0.08%)
Top Losing Sectors:
- Engineering Services (Avg. Per Change: -2.34%)
- Aerospace & Defense (Avg. Per Change: -2.18%)
- Castings, Forgings & Fasteners (Avg. Per Change: -2.02%)
- Aviation (Avg. Per Change: -1.76%)
Buzzing Stocks
Several stocks made headlines during the trading session:
Ramkrishna Forgings: Reported Q1 results with revenue growth but a sharp decline in profit. The company faced challenges including tariff costs and forex losses but secured new orders worth Rs 660 crores.
Bharti Airtel: Witnessed significant block trades on the NSE, with transactions totaling approximately Rs 261.72 crores.
Blue Star: Targeting 15% CAGR in revenue, driven by expected strong demand for air conditioners and refrigerators.
Hero MotoCorp: Aims to boost exports by over 40% this year and plans to generate 10% of revenue from global business. The company achieved a record 7% market share in the EV segment.
Godrej Consumer: Expects business volume growth in India to increase from mid-single-digits to high-single-digits in upcoming quarters.
DLF Limited: Reported strong Q1 results with sales bookings of ₹11,425 crores, reflecting a 78% year-on-year growth.
Escorts Kubota: Posted a 40% year-on-year increase in net profit from continuing operations to Rs 372.6 crores for the quarter.
Market Breadth
The overall market breadth was negative, indicating a broad-based selloff:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,378 |
| Positive | 1,698 |
| Negative | 2,680 |
Conclusion
The Indian stock markets faced significant pressure, with both Nifty and Sensex declining by approximately 1%. While most sectors struggled, Trading and Transport showed some resilience. The negative market breadth suggests a widespread selloff across the board, despite some individual stocks reporting positive developments and strong quarterly results.
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