Mumbai’s stock market wrapped up the trading week on a sour note, with the benchmark Sensex plunging 961.42 points or 1.17% to settle at 81,287.19. The Nifty too mirrored the downturn, shedding 317.90 points or 1.25% to close at 25,178.65. This sharp decline marked a turbulent end to the session amid heavy selling pressure.
Realty and auto sectors bore the brunt of the sell-off. Nifty Realty tumbled 2.26%, while Nifty Auto slipped 1.86%. Other indices followed suit: Nifty FMCG down 1.69%, Nifty Metal 1.67%, Nifty Financial Services 1.55%, Nifty Pharma 1.50%, Nifty Consumption 1.48%, and Nifty Healthcare 1.41%.
A few bright spots emerged in Nifty IT, up 0.16%, Nifty Consumer Durables gaining 0.17%, and Nifty Media rising 0.60%. However, the broader market wasn’t spared, with midcaps and smallcaps also facing outflows. Nifty Midcap 100 fell 1.14% to 59,115.60, and Nifty Smallcap 100 dropped 1.10% to 16,928.90.
In the Sensex pack, HCL Tech, Trent, Infosys, and Eternal gained ground, but losers dominated including Sun Pharma, Bharti Airtel, Bajaj Finserv, Indigo, M&M, Maruti Suzuki, UltraTech Cement, HUL, Kotak Mahindra Bank, ICICI Bank, Bajaj Finance, Power Grid, Tata Steel, ITC, and HDFC Bank.
Several factors fueled the market rout. Foreign investors continued their selling spree, offloading equity worth Rs 3,465.99 crore on Thursday. The lack of a deal between Iran and the US spiked crude oil prices, adding to jitters. The rupee weakened against the dollar, and weak global cues compounded the pressure.
Crude prices surged, with WTI at $66.25 per barrel (up 1.63%) and Brent at $71.86 (up 1.38%). Investors now eye upcoming economic data and geopolitical developments for direction, as markets brace for potential volatility ahead.