E-Paper
Sensex, Nifty 50 down by up to 0.5% today on profit-taking, IT firms lead declines
Among Nifty50 stocks, Bharti Airtel, HCLTech, Tech Mahindra, TCS and Maruti Suzuki were the top losers while ITC, ICICI Bank and Eternal were among the gainers.
India's stock market fell in early today as profit-taking offset the impact of healthy earnings and progress in India-US trade talks.
At 11:35 am, the 30-share BSE Sensex was down 0.21% at 83,134.30 points while the broader Nifty 50 fell 0.22% at 25,454.35 points. The Nifty 50 and the Sensex have both fallen about 1.5% so far this week, cooling off after a 4.5% rise in October. All 16 major sectors were in the red at the open.
Among the Nifty 50 stocks, Bharti Airtel Ltd., HCL Technologies Ltd., Tech Mahindra Ltd., NTPC Ltd., Tata Consultancy Services Ltd. and Maruti Suzuki India Ltd. were the top losers while ITC Ltd., ICICI Bank Ltd. and Eternal Ltd. were among the gainers.
“Sentiment has turned fragile due to profit booking and persistent pessimism and foreign outflows,” said Prashanth Tapse, senior vice president of research at Mehta Equities, told Reuters. “Concerns over delay in US rate cuts due to rising services inflation further dampened mood, offsetting lingering hopes for a positive outcome from US-India trade talks.”
Stocks In News
- Bharti Airtel's share price fell as much as 4% after 5.1 crore shares were sold in a block deal. Earlier, Bloomberg News reported that Singapore's Singtel Ltd. is offloading stake in the company at a 3.1% discount.
- Amber Enterprises Ltd. tumbled 12.5% after reporting a loss in Q2 FY26 due to weakness in the consumer durables segment.
- Crompton Greaves fell 2% after reporting a decline in quarterly profit as sales of cooling equipment took a hit.
- Lupin Ltd. gained 1.3% and LIC of India advanced 1%, after reporting a rise in their quarterly profits.
DII > FII
To be sure, India's retail investors buying more stock that foreign investors are selling. Still, the stock market is trending downwards.
FIIs offloaded equities worth ₹3,263.21 crore on Thursday but DIIs bought stocks worth ₹5,283.91 crore, according to exchange data.
“The huge shorting by FIIs are overpowering the DIIs and investor buying in the market,” V.K. Vijayakumar, chief investment strategist, Geojit Investments Ltd. told PTI on Friday. “Short covering can lead to trend reversal but there are no immediate triggers for that in sight. But markets have an uncanny ability to surprise.”
