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Market rally ends as Sensex, Nifty fall on FPI selloff, weak earnings
The rally came to an abrupt halt due to lackluster corporate earnings, persistent selling by foreign investors, and renewed uncertainty surrounding US trade negotiations. India's total market capitalisation fell by ₹11.5 trillion during the month, settling at ₹450 trillion ($5.14 trillion).
With the exception of FMCG and pharmaceuticals, all sectoral indices ended the month in the red, with the IT sector leading declines, sinking by nearly 10 per cent. Notable outliers among Nifty constituents included Eternal, which surged 17 per cent, and Hindustan Unilever, up 10 per cent.
Foreign portfolio investors (FPIs) offloaded nearly ₹20,000 crore in equities in July, while domestic institutional investors stepped in, purchasing over ₹50,000 crore worth of shares.
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