The Indian stock market wasted no time diving into the red at the week’s outset, with benchmarks Sensex and Nifty posting steep losses fueled by lackluster world markets. Early trading painted a bearish canvas as investor confidence wavered.
Pressure mounted from declines in Reliance Industries, ICICI Bank, Wipro, Tata Motors PV, and Cipla, catalyzing a broad-based slide.
Sensex stood at 83,072 after a 498-point (0.60%) fall; Nifty at 25,560, down 134 points (0.52%). Nifty Midcap (-0.40%) and Smallcap (-0.48%) echoed the sentiment.
Pharma (-0.6%), IT (-0.5%), and Auto (-0.4%) sectors lagged, offset slightly by Metals (+0.24%).
RIL dropped 2 percent despite impressive Q3 FY25-26 profits. Wipro shed over 7 percent, Tata Motors PV 2.8 percent, Max Health 2.9 percent, Infosys 1 percent-plus, Cipla 0.9 percent.
Bright spots emerged in Tech M, Indigo, Bajaj Finance, Trent, HUL, Kotak Bank, Axis Bank, BEL, and HDFC Life.
Trump’s tariff salvo against eight European countries—retaliation for blocking his Greenland bid—has sown seeds of doubt globally.
Last week’s Nifty volatility saw 25,899 peak, 25,473 trough, 25,694 close. Below short EMAs but above 200-day, outlook holds medium-term promise. Resistances: 25,875/26,000/26,100; supports: 25,600/25,450.
Pro traders advocate selective buys in quality names during pullbacks, eyeing Nifty’s 26,000 breach for momentum plays in uncertain times.