Sensex, Nifty in the Previous Session.
In the previous session on Thursday, the 30-share BSE Sensex crashed 705 points to close at 80,080, while the Nifty slipped below 24,500. The rout was led by sharp losses in IT, banking, telecom, and realty stocks, with HCL Tech, Infosys, TCS, ICICI Bank, and HDFC Bank among the biggest laggards.
Foreign Outflows Add to Market Pain
Relentless foreign fund outflows further dented sentiment, even as a brief recovery attempt, fuelled by the government’s cotton import duty exemption, failed to hold. Market breadth remained weak, with over 2,600 stocks declining against just 1,400 gainers on the BSE.
Mid- and Small-Caps Underperform
The sell-off has not spared mid- and small-cap indices either, which underperformed the broader market. Sectoral pain was widespread, with IT, services, telecom, and utilities witnessing sharp declines, while consumer durables stood out as the lone gainer.
Volatility Ahead
As global crude prices edge higher and foreign investors turn risk-averse, market volatility is expected to stay elevated. Analysts warn that further weakness cannot be ruled out if foreign selling persists and policy support remains limited.