On Wednesday, the rally in the stock market that had been going on for three days came to a halt. Due to increasing tensions between Iran and America, Brent crude prices crossed $100, which cooled the global market environment. Amidst this pressure, the domestic market witnessed a decline. However, buying activity in mid-cap and small-cap stocks helped limit the losses.
Big decline in IT sector
The IT sector emerged as the main reason for today’s decline, where heavy selling pressure was seen.
The sector remained under pressure due to weak earnings results and cautious guidance.
Most falling shares of Nifty
M&M: -2.70%
HDFC Life: -1.57%
ICICI Bank: -1.51%
Bajaj Auto: -1.50%
Nifty’s highest growing shares
Tata Consumer: +3.63%
HUL: +2.47%
NTPC: +2.5%
Jio Financial Services: +1.85%
Buying interest was seen in defensive and FMCG stocks.
impact of earnings results
Havells India: +3.9%
Tech Mahindra: -2%
360 One WAM: -4.70%
Transformers & Rectifiers: -7%
The shares witnessed sharp fluctuations due to the earnings results of the respective companies.
stir due to news
ABB India: +5% (impact of strong earnings results from parent company)
Som Distilleries
Amara Raja
PNC Infra
highest rising stocks
Lux Industries
Inox India
IREDA: +9%
Data Patterns: +8.5%
Shares that fell the most
eClerx Services: -4%
CDSL: -2.87%
CIE Automotive
TVS Motor
How was the market’s opening?
The trading session started with heavy losses in the morning. Shortly after opening, Sensex was trading around 78,802 levels, down 470 points. Nifty fell 121 points to 24,455. Bank Nifty fell 202 points to close at 57,168. A fall of 40 points was seen in the Midcap Select index. The IT index fell up to 3%, with HCL Tech falling 3%.
At 09:31, Sensex was trading 516 points down at 78,756. Meanwhile, Nifty was trading 130 points down at 24,446. Bank Nifty was down 173 points at 57,198. Trading in Midcap and Smallcap indices was mixed.
Indices like Auto, NBFC, Pharma, Private Banks and Healthcare were trading in the red. In contrast, sectors like FMCG, Media, Metals, PSU Banks, Realty and Consumer Durables saw gains. On Nifty 50, Nestle, Hindalco, Adani Enterprises, TMPV, SBI Life, NTPC, ONGC and Tata Consumer were among the top gainers. HCL Tech, Tech Mahindra, Infosys, TCS, ICICI Bank, Dr. Reddy’s, Power Grid and Asian Paints were the biggest losers of the day.
Pre-opening signals seem somewhat mixed. On one hand, hopes for relief have increased after Donald Trump extended the ceasefire deadline; On the other hand, the uncertainty surrounding the talks is still weighing heavily on the market mood. The rise in crude oil prices, weakness in global markets and activities of FIIs may decide the direction of the market today.
Ceasefire deadline extended, but uncertainty still remains
Amid rising tensions in the Strait of Hormuz, Trump has extended the ceasefire indefinitely—without setting a specific deadline. He said the administration will now wait for a joint resolution from the Iranian government to end the conflict. However, there is still a lack of clarity regarding the talks, due to which there is an environment of uncertainty in the market.
GIFT Nifty weak; Global signals mixed
Global market signals are still inconclusive. GIFT Nifty is trading around 24,400 levels, down about 170 points; This is a sign of a weak start to the market. However, US futures are showing strength, with Dow futures up 225 points and Nasdaq futures up 175 points.