Sensex, Nifty slip amid volatile trade triggered by stock-specific reactions
The BSE Sensex closed at 82,184.17, down 542.47 points or 0.66%, and the NSE Nifty50 settled at 25,062.10, declining 157.80 points or 0.63%. The session also marked the weekly F&O expiry, adding to the choppiness in trade.
Key Gainers and Losers
On the Sensex, top gainers included Zomato (Eternal), Tata Motors, Sun Pharma, Tata Steel, and Titan.
While top laggards were Trent, Tech Mahindra, Bajaj Finserv, and Reliance Industries (RIL).
The Nifty MidCap 100 index slipped 0.58%, while the Nifty SmallCap 100 index lost 1.09%, indicating broader market underperformance.
Sectoral Performance
Nifty IT declined 2.21%, reacting to earnings from firms like Infosys and Coforge.
Nifty FMCG fell 1.12%, and Nifty Realty dropped 1.04%.
While, Nifty PSU Bank rose 1.24%, supported by sustained buying interest.
Nifty Pharma gained 0.55%, led by companies like Dr Reddy's Laboratories.
Market Sentiment
Investor sentiment remained cautious amid Q1 results season, with earnings from heavyweight companies such as Infosys, Dr Reddy's Labs, IEX, Coforge, and Tata Consumer Products being closely tracked. The volatility also reflected the derivatives expiry impact.
According to analysts, markets are expected to remain stock-specific in the near term, driven by corporate earnings and global cues. Traders may keep a close watch on upcoming results from blue-chip companies, as well as movements in global markets, oil prices, and domestic macro indicators.
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