The Indian stock market closed on a flat note, with the Sensex ending 0.02% lower at 74,102.32 and the Nifty managing to inch up to 22,497.90, gaining 0.17%. Weighed down by global uncertainties, especially concerns over Trump’s tariff policies, the markets opened in the red but staged a partial recovery in the afternoon.
Despite bouncing back from early losses, the indices continued to seesaw before settling near the flatline.
“Today, the benchmark indices witnessed a modest recovery from lower levels, with the Nifty ends 38 points higher and the Sensex up by 13 points. Among sectors, the Realty index outperformed, rallying by 3.75 percent, while the Private Banks and Capital Market indices shed over 1 percent,” said Shrikant Chouhan, Head Equity Research, Kotak Securities.
ALSO READVedanta: Axis Securities decodes how demerger will unlock value
“Technically, in the backdrop of weak global sentiment, our market opened with a gap down; however, due to buying interest at lower levels, it recovered sharply. We believe that as long as the market is trading above 22,300/73700, the short-term outlook remains bullish. On the higher side, it could retest the levels of 22,600-22,650/74500-74700. Conversely, if it falls below 22,300/73700, the sentiment could change. Below this level, traders may prefer to exit their long positions,” he added.
IndusInd Bank crashes 27%,
The biggest shock of the day came from IndusInd Bank, which nosedived 27%, its steepest single-day fall since November 2020. The private lender’s shares opened in the red at Rs 810.45 and continued to slide, eventually closing 27% lower.
IT Stocks struggle, but some recover
IT stocks bore the brunt of global sell-offs, following a sharp decline in US tech shares overnight. Infosys, a key heavyweight, remained under pressure, along with M&M, Bajaj Finserv, and Power Grid. However, some IT stocks managed to claw back losses by the end of the session, though the sector largely traded in the red.
Trent leads gainers, BPCL and Sun Pharma shine
On the brighter side, Trent emerged as the top performer, surging over 4%. BPCL, Sun Pharma, ICICI Bank, and BEL also ended in positive territory.
ALSO READ4 reasons why tech stocks are falling today Global jitters weigh on sentiment
The downward pressure on Indian markets was largely driven by a steep overnight fall in US indices,
» Read More
