Today, the Indian stock market faced a downturn, with both the Sensex and Nifty indices closing lower amid persistent selling in significant sectors. While the FMCG and oil & gas sectors showed some resilience, stocks in the IT, automobile, real estate, and media sectors struggled, dragging overall market performance down.
Market Overview and Weekly Performance
Recent data indicates a mixed performance in Indian equity markets for the week. The Nifty 50 and Sensex 30 indices recorded slight gains, but the BSE Midcap and BSE Smallcap indices fell short, ending the week on a negative note. Market volatility has been prevalent, fueled by impending U.S. tariffs. The automobile sector was particularly affected, with a proposed 25% tariff on car imports and auto parts leading to a decline of over 2% in the BSE auto index this week, according to Shrikant Chouhan, Head of Equity Research at Kotak Securities.
Indices Closing Figures
The Sensex concluded the day down by 191.51 points (0.25%), finishing at 77,414.92. In a similar vein, the Nifty decreased by 72.60 points (0.31%), closing at 23,501.10.
In the banking sector, the Nifty Bank index remained relatively stable, dipping just 11 points (0.02%) to settle at 51,564.85.
Sector Performance: IT and Auto Weigh Down Markets
Most sector indices ended the trading day in the red, barring gains in FMCG and oil & gas stocks. The IT, automobile, real estate, and media sectors experienced declines between 1% and 2%.
Vinod Nair, Head of Research at Geojit Investments Limited, noted that Asian markets are currently in a consolidation phase due to the anticipated effects of new U.S. tariffs on major manufacturing hubs. He also mentioned that increased inflation in Japan has contributed to the ongoing market weakness. Investors in India are now reassessing the potential impacts of these tariffs on the automobile, pharmaceutical, and other sectors. Additionally, gold prices have surged to new highs, raising concerns about the possible escalation of the trade war and its effects on the global economy.
Top Gainers and Losers
On the Sensex, notable losers included Wipro, IndusInd Bank, Shriram Finance, Cipla, and Mahindra & Mahindra. Conversely, a few stocks managed to defy the trend, with Tata Consumer, Kotak Mahindra Bank, Apollo Hospitals, ONGC, and ICICI Bank emerging as the leading gainers.
Broader Market Trends
The broader market indices also felt the strain, with the BSE Midcap index declining by 0.7% and the Smallcap index slipping 0.35%.
In summary, the Indian stock market today reflects a complex landscape, with varying sector performances amid global pressures and domestic evaluations. Investors are keenly watching how these developments unfold in the coming days.
