Synopsis : Indian markets cooled off after Monday’s record-high surge as profit booking and foreign investor selling dragged key indices lower.
Media and financial stocks led the downturn, while global currency pressures pushed the rupee to a new low.
Stock Market LIVE : Sensex & Nifty Pull Back as Profit-Taking Hits Market Momentum
A day after hitting fresh 14-month highs, India’s benchmark indices witnessed a sharp pullback on Tuesday. The Sensex dropped over 300 points, while the Nifty slipped below 26,100, triggered by heavy selling in media and financial stocks.
On Monday, both indices had briefly touched new multi-month peaks — Sensex at 86,159.02 and Nifty at 26,325.80 — driven by strong earnings sentiment, resilient economic growth, and consistent fund inflows. However, late-session profit-taking wiped out most intraday gains.
Despite the correction, analysts note that the broader momentum remains intact thanks to India’s steady macroeconomic environment and supportive policy backdrop. Yet, markets remain cautious as the benchmarks still haven’t surpassed their all-time closing highs from September 2024.
Key Market Updates
Rupee hits a record low of 89.85/$ in early trade amid global currency volatility
Bajaj Housing Finance plunges 9% on speculation of promoter stake sale
Vodafone Idea jumps 4% on expectations of AGR relief by year-end
Media and financial stocks underperform, dragging down overall market sentiment
FIIs continue selective selling after Monday’s sharp uptick
With global cues still mixed and domestic valuations running high, short-term volatility is expected even as long-term fundamentals remain strong.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial professional before making investment decisions.
