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India Today
18-07-2025
- Business
- India Today
Sensex ends over 500 points lower, Nifty below 25,000; Axis Bank falls 5%
Benchmark indices closed sharply lower on Wednesday, dragged down by a sell-off in banking and IT stocks following a weak start to the earnings S&P BSE Sensex fell 501.51 points to close at 81,757.73, while the NSE Nifty50 slipped 143.05 points to end the day at 24,968.40, breaching the psychological 25, market indices also mirrored the weak sentiment and high volatility on Dalal Banking stocks were hurt by a sharp drop in shares of Axis Bank after it posted its Q1FY26 results. The shares of private lender settled over 5% lower and the Nifty Private Bank index fell nearly 1.5%.'A broad-based sell-off was observed in the national market amidst a disappointing initial set of earnings from the finance and IT sectors,' said Vinod Nair, Head of Research at Geojit Financial added that high valuations in large-cap stocks and significant FII short positions have made investors more around India's trade ties with Russia, following tariff threats, further added to the uncertainty. However, Nair remains positive on India's medium- to long-term prospects, underpinned by low inflation and a supportive monetary policy stance.- Ends
India Today
02-06-2025
- Business
- India Today
Sensex tumbles 700 points. Why is stock market falling despite strong GDP growth?
Benchmark stock market indices fell sharply in early trade even as India's GDP growth in the fourth quarter of FY25 exceeded expectations, coming in at 7.4%.Around 9:25 am, the BSE Sensex was down 732.71 points at 80,718.30, while the NSE Nifty50 slipped 197.45 points to 24,553.25. Broader markets mirrored the weakness, with most indices in the red amid a spike in strong domestic data, investor sentiment appears weighed down by mounting global concerns. 'There are global headwinds like renewed tariff concerns that will restrain a breakout rally. At the same time there are domestic tailwinds that will support the market at lower levels,' said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial flagged fresh global trade tensions as a key worry for equity markets. 'President Trump's 50% tariffs on steel and aluminium is a clear message that the tariff and trade scenario will continue to be uncertain and turbulent. This headwind will impact markets,' Vijayakumar similar concerns, Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, warned of possible turbulence on Dalal Street. 'Market turbulence looms amid escalating US-China trade tensions, with President Trump accusing China of violating their agreement,' Tapse India's better-than-expected GDP figures offer comfort on the domestic front.'On the domestic front the tailwinds are getting stronger with the latest Q4 GDP growth data coming at 7.4%, which is much better-than-expected. Trends in consumption expenditure and capital expenditure are promising,' Vijayakumar said.'This along with low inflation and the expected continuation of the rate-cutting policy provide the perfect setting for sustained economic growth in FY26,' he noted, though he cautioned that corporate earnings growth remains a concern. 'If leading indicators suggest a recovery in earnings growth there is a high probability of the market breaking out of the present range and moving higher."Adding to the risk-off mood, Devarsh Vakil, Head of Prime Research at HDFC Securities, said Indian markets were likely to stay subdued despite the GDP print due to 'heightened fears of escalating conflict between Ukraine and Russia.'NIFTY OUTLOOKTechnical indicators suggest that Nifty may struggle to break out in the near term.'Persistent rejection trades seen last week on all upside attempts point towards the lack of momentum required for large upsides. We feel that a dip to 24,500 could improve such hopes. That said, slippage past the same could however expose 24,060, though a collapse is less expected,' said Anand James, Chief Market Strategist, Geojit Financial Services.'Alternatively, direct rise above 25,077 could clear path for intermediate objective of 25,235–25,460,' he addedMust Watch
