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Economic Times
5 days ago
- Business
- Economic Times
Why stock market is down today? Sensex plunges over 700 pts, Nifty slips below 24,850; 5 reasons behind the fall
Stock Market Crash: The biggest drag came from the financial sector, with the Nifty Financial Services index falling over 1%. Stock Market Crash Today: Indian equity markets experienced a significant downturn on Friday, with the Sensex and Nifty50 both declining sharply. Financial stocks, particularly Bajaj Finance, led the sell-off due to concerns over asset quality. Global uncertainties, stalled US-India trade deal negotiations, and continuous selling by foreign investors further contributed to the market's negative performance. Tired of too many ads? Remove Ads Here are five key reasons behind today's market slide: 1. Financial stocks under pressure after Bajaj Finance results Tired of too many ads? Remove Ads 2. Uncertainty over US-India trade deal 3. Continued FII selling 4. India-UK Trade Pact 5. Weak global cues Broader Market Impact Indian equity benchmarks tumbled on Friday, with the Sensex plunging over 700 points intra-day and the Nifty50 slipping below the 24,850 mark. The sell-off was led by financial stocks, particularly Bajaj Finance , amid broader concerns around global cues and foreign investor of 12:28 pm, the BSE Sensex was down 720 points, or 0.88%, at 81,464., while the Nifty50 fell 241 points, or 0.96%, to 24, total market capitalisation of BSE-listed companies dropped by Rs 4.75 lakh crore to Rs 453.35 lakh biggest drag came from the financial sector, with the Nifty Financial Services index falling over 1%. Bajaj Finance and Bajaj Finserv led the losses, declining 5.5% and 4.5%, respectively, following concerns over asset quality in the MSME segment despite posting strong quarterly Bank, HDFC Bank, and Kotak Bank also lost ground, shedding up to 1%. Bajaj Finance was the top Nifty sentiment is also weighed down by uncertainty surrounding a possible interim trade deal between India and the U.S. With Washington's August 1 deadline approaching, negotiations remain stalled over tariffs on agricultural and dairy products.A breakthrough appears unlikely in the near term, as India's trade delegation returned from Washington without any resolution. The absence of a formal tariff communication from the U.S. adds to the institutional investors (FIIs) have been net sellers in recent sessions, offloading Rs 11,572 crore worth of Indian equities in the last four trading days alone.'The near-term market construct has turned weak. Sustained FII selling and the correction in broader markets—especially smallcaps where valuations had turned excessive—will likely keep pressure on the indices,' said Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial and the UK signed a long-anticipated Free Trade Agreement (FTA) on Thursday during Prime Minister Narendra Modi's visit to London. While the deal is expected to benefit sectors like textiles, whisky, and automobiles by reducing tariffs, analysts believe the agreement is unlikely to offer immediate market upside without clarity on trade negotiations with the USAsian markets traded lower on Friday as investors booked profits ahead of a crucial week. Japan's Nikkei fell 0.5% from record highs, while Hong Kong's Hang Seng dropped 0.5%, and Australia's ASX 200 declined 0.5%. Mainland Chinese indices also US futures were slightly higher after strong earnings from Alphabet, the week ahead includes key risk events like the Federal Reserve policy meeting, U.S. payrolls data, and earnings from major tech firms including Apple, Amazon, Meta, and Nifty Auto index fell 1.3%, leading sectoral declines, followed by financial services, metal, PSU Bank, IT, and Oil & Gas, all down between 0.7% and 1.3%. Broader indices underperformed, with the Nifty Midcap100 and Smallcap100 falling 1.2% and 1.5%, respectively.
New Indian Express
6 days ago
- Business
- New Indian Express
Indian markets close higher on global cues and Q1 earnings; rupee ends weaker
CHENNAI: Indian stock markets ended higher on Wednesday, July 23, tracking strength in global equities and positive sentiment around ongoing corporate earnings for the June quarter (Q1FY26). The BSE Sensex rose 539.83 points, or 0.66%, to close at 82,726.64, while the NSE Nifty50 gained 159 points, or 0.63%, to settle at 25,219.90. Markets witnessed broad-based buying, led by gains in financials, autos, and metal stocks. Investor confidence was further supported by upbeat earnings from large-cap companies. Sectoral performance was largely positive on Wednesday with Nifty Auto advanced 0.85%, Nifty Financial Services (up 0.76%) Nifty Bank (up 0.80%), and Nifty Metal (up 0.48%). However, Nifty Realty was the notable laggard --down 2.6%. In the broader markets, the Nifty MidCap 100 index gained 0.34%, while the Nifty SmallCap 100 closed flat. On the earnings front, several key companies reported results: Infosys posted a 9% year-on-year rise in net profit to ₹6,921 crore, with revenue up 8% to ₹42,279 crore. JSW Steel reported a 158% jump in consolidated net profit to ₹2,184 crore. Indian Overseas Bank recorded a 75.6% rise in net profit to ₹1,111 crore. Tech Mahindra saw a 34% increase in net profit despite some pressure on revenue from the Americas. Jio Financial Services reported a 3.8% rise in net profit, with a 47% surge in revenue year-on-year. Rupee The Indian rupee ended slightly weaker at ₹86.41 against the US dollar, compared to the previous close of ₹86.36. Market sentiment was also influenced by global developments, with investors closely tracking geopolitical cues and trade policy signals, including the potential impact of proposed US tariffs on key sectors. With the earnings season in full swing, market participants are expected to remain stock-specific in the near term, while global trends and macroeconomic data continue to guide broader direction, say analysts.
Business Standard
6 days ago
- Business
- Business Standard
Bajaj Finance Ltd soars 1.64%, up for fifth straight session
Bajaj Finance Ltd is quoting at Rs 968.2, up 1.64% on the day as on 12:44 IST on the NSE. The stock is up 46.54% in last one year as compared to a 3.11% spurt in NIFTY and a 17.17% spurt in the Nifty Financial Services. Bajaj Finance Ltd gained for a fifth straight session today. The stock is quoting at Rs 968.2, up 1.64% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.45% on the day, quoting at 25172.45. The Sensex is at 82590.28, up 0.49%. Bajaj Finance Ltd has risen around 5.64% in last one month. Meanwhile, Nifty Financial Services index of which Bajaj Finance Ltd is a constituent, has risen around 1.47% in last one month and is currently quoting at 26990.45, up 0.56% on the day. The volume in the stock stood at 58.75 lakh shares today, compared to the daily average of 71.77 lakh shares in last one month. The benchmark July futures contract for the stock is quoting at Rs 967.25, up 1.18% on the day. Bajaj Finance Ltd is up 46.54% in last one year as compared to a 3.11% spurt in NIFTY and a 17.17% spurt in the Nifty Financial Services index. The PE of the stock is 40.07 based on TTM earnings ending March 25.
Business Standard
21-07-2025
- Business
- Business Standard
Quick Wrap: Nifty Financial Services Index records a surge of 1.62%
Nifty Financial Services index ended up 1.62% at 26986.95 today. The index has added 1.00% over last one month. Among the constituents, ICICI Bank Ltd rose 2.81%, HDFC Bank Ltd jumped 2.20% and ICICI Lombard General Insurance Company Ltd added 2.06%. The Nifty Financial Services index has increased 14.00% over last one year compared to the 2.28% spike in benchmark Nifty 50 index. In other indices, Nifty Private Bank index increased 1.26% and Nifty Bank index increased 1.19% on the day. In broad markets, the Nifty 50 witnessed a rise of 0.49% to close at 25090.7 while the SENSEX increased 0.54% to close at 82200.34 today.
India Today
18-07-2025
- Business
- India Today
Sensex tumbles over 600 points: Why is stock market falling today?
Benchmark market indices tumbled sharply on Friday, dragged down by financial stocks after Axis Bank reported a surprise profit drop for the June 30-share BSE Sensex tumbled 644.99 points to 81,614.25 around 12:19 pm, while the NSE Nifty 50 fell 191.30 points to 24,920.15. Losses were broad-based, with most of the major sectoral indices in the Nifty Financial Services index shed over 1%, while the Nifty Private Bank index declined 1.3%.advertisement Axis Bank led the slide, plunging over 4%—its sharpest fall in six months—after it posted a lower-than-expected June-quarter bank attributed the miss to a rise in bad loans following a one-time industry-wide benchmarking exercise and a dip in its net interest margin to 3.8%, down from 4.05% in the previous lender said it had to realign its asset classification norms after discovering that a peer bank was using a stricter standard. While Axis did not name the bank, the change led to higher provisioning and credit flagged further concerns. Macquarie said the results raised "more questions than answers", pointing to Axis's elevated credit costs compared to peers, even after accounting for the one-time miss at Axis Bank weighed on investor sentiment across the sector, even as IT stocks provided some relief. Wipro gained 3% following its results, but the Nifty IT index remained flat as LTIMindtree slipped 2%.Broader markets also stayed weak. The Nifty Smallcap 100 and Midcap 100 indices were down 0.6% and 0.5%, respectively. So far this week, the Sensex has shed 0.8%, while the Nifty is down 0.5%, setting up both indices for a third straight week of eyes are now on the June-quarter results of heavyweights HDFC Bank and ICICI Bank, due on Saturday, which could set the tone for next week's market direction.- EndsTrending Reel
