Devastation in stock market, Sensex-Nifty fell for 8th consecutive day
The trend of decline in the Indian stock market continued for the eighth day as well. Continuous selling by foreign institutional investors (FIIs) affected investor sentiment and the market saw a decline. The stock market opened with a gain in early trade, but soon this trend changed, and the market went into the red mark. The BSE Sensex closed down 199.76 points or 0.26% at 75,939.21. During trading, the Sensex at one time fell 699.33 points or 0.91% to reach 75,439.64.
The NSE Nifty closed down 102.15 points or 0.44% at 22,929.25. In the last 8 days, the Sensex has fallen by 2,644.6 points (3.36%). At the same time, the Nifty has slipped by 810 points (3.41%).
The biggest loss was in smallcap and midcap stocks. BSE's midcap index closed down by 2.5 percent and smallcap index by 3.54 percent
Which stocks declined and rose?
Adani Ports fell by more than 4%. UltraTech Cement, Sun Pharma, IndusInd Bank, NTPC, Tata Steel were also among the major falling stocks. At the same time, Nestle, ICICI Bank, Infosys, Tata Consultancy Services (TCS), HCL Tech saw a rise.
Main reasons for market decline
According to Vinod Nair, Research Head, Geojit Financial Services, investors' risk-taking ability is decreasing. Corporate earnings are weaker than expected, especially those of mid and small cap companies. External factors such as depreciation of rupee (INR Depreciation) and tariff hike by the US are negatively impacting market sentiment. Until there is clarity on improvement in corporate earnings and tariffs, volatility will remain in the market.
Impact of international markets
Talking about Asian markets, Seoul, Shanghai and Hong Kong were up. At the same time, Tokyo saw a decline. European markets were trading mixed. US markets closed strongly on Thursday.
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India-US trade agreement
India and the US have talked about increasing bilateral trade to $500 billion by 2030. Also, it has planned to complete the first phase of a bilateral trade agreement (Bilateral Trade Agreement - BTA) by the end of 2025.
Summary
Both leaders talked about giving priority to fair trade and economic security. Under "Mission 500", a target was set to double the trade by 2030. There is a plan to complete the negotiations on the first phase of the multi-sectoral bilateral trade agreement (BTA) by the end of 2025.
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