Synopsis : Indian benchmark indices opened sharply lower as profit booking across sectors dragged markets into the red. Realty and media stocks led losses, while selective strength in IT and pharma provided limited support.
Indian equity markets witnessed a broad-based decline on Thursday, with benchmark indices Sensex and Nifty 50 opening sharply lower after a weak positive start turned into profit booking across sectors.
The Sensex fell over 450 points, while the Nifty slipped below the crucial 25,700 level, reflecting cautious investor sentiment and lack of strong domestic triggers.
Sectoral Drag Weighs on Sentiment
Market breadth remained mixed but tilted toward the negative side, as most sectoral indices traded in the red:
Realty and Media stocks were the worst hit
Banking, financials, metals, FMCG and realty continued to weigh on the benchmarks
IT, pharma and healthcare showed selective resilience
Midcap stocks offered pockets of stability
The overall tone suggests investors are rotating selectively rather than taking aggressive positions.
Why Markets Are Falling
The decline comes largely on the back of profit booking after recent gains, with investors choosing to pare exposure in rate-sensitive and cyclical sectors. Uncertainty over global cues and upcoming economic data has also kept traders cautious.
Global Market Cues
Asian markets were largely positive, offering limited comfort:
S&P 500 futures little changed
Nikkei 225 futures up 0.6%
Japan’s Topix up 1%
Australia’s S&P/ASX 200 up 1.1%
Euro Stoxx 50 futures little changed
Despite supportive global cues, domestic markets remained under pressure due to internal profit-taking.
Outlook
Analysts believe markets may continue to see range-bound and volatile trade in the near term, with stock-specific action dominating. Sustained buying interest in defensives and quality large-caps will be key for stability.
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Investors should consult certified financial advisors before making any investment decisions.
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