Market Wrap: Nifty and Sensex Tumble Nearly 1% Amid Sector-Wide Selloff
By ScanX News Team
Indian stock markets closed negative on Friday, with Nifty 50 falling 0.92% to 24,832.10 and Sensex dropping 0.88% to 81,463.09. Most sectors declined, led by Diamond, Gems and Jewellery (-2.42%) and Power (-2.25%). Trading sector outperformed (+1.65%). Sharda Cropchem surged 20% on strong results, while Hexaware Technologies plummeted 10.82% on missed estimates. Market breadth was negative with 3,125 declining stocks versus 1,229 advancing.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets closed in the red on Friday, with both benchmark indices witnessing significant declines. The Nifty 50 fell 230 points or 0.92% to close at 24,832.10, while the BSE Sensex dropped 721.08 points or 0.88% to end the session at 81,463.09.
Sectoral Performance
The market witnessed a broad-based selloff, with most sectors closing in negative territory.
Top Losing Sectors:
- Diamond, Gems and Jewellery (Average Change: -2.42%)
- Power (Average Change: -2.25%)
Top Performing Sector:
- Trading (Average Change: +1.65%)
Buzzing Stocks
Several stocks made headlines during the trading session:
Sharda Cropchem Ltd: The stock surged 20% to ₹1090.50 following strong quarterly results. The company reported a 25% increase in revenue and a 424% jump in profit after tax.
Tatva Chintan Pharma Ltd: Shares climbed 11.77% to ₹1135.00, reaching a 52-week high on robust Q1 performance and increased stake by investor Mukul Agrawal.
Omax Autos Ltd: The stock gained 11.05% to ₹122.37 after announcing Q1 results and key management changes.
Indian Energy Exchange Ltd: Shares rebounded 9.43% to ₹144.80 following a steep decline in the previous session due to regulatory changes.
Hexaware Technologies Ltd: The stock plummeted 10.82% to ₹737.20 after missing Q1 estimates and reporting a decline in EBITDA margins.
Chennai Petroleum Corporation Ltd: Shares fell 9.13% to ₹692.05 following a reported net loss in Q1.
Intellect Design Arena Ltd: The stock declined 8.98% to ₹1039.40 despite reporting increased revenue and profit in Q1.
Market Breadth
The overall market breadth was decidedly negative:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,354 |
| Positive | 1,229 |
| Negative | 3,125 |
Conclusion
The Indian stock markets ended the week on a bearish note, with widespread selling pressure across sectors. While a few stocks bucked the trend with strong gains, the overall sentiment remained cautious. Investors will be closely watching upcoming corporate earnings and global cues for further market direction.
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