Market closed on red mark! SENSEX down 1060 points, NIFTY near 25,400 (Image/AI)
Today, on Tuesday, the second day of the week, there was intense pressure in the stock market and both the major indices Nifty 50 and BSE Sensex fell sharply. Heavy selling in IT and auto stocks broke the back of the market. The impact of this fall was so big that investors’ wealth worth more than Rs 5 lakh crore was wiped out within a few hours. The total market cap of BSE came down to around Rs 466 lakh crore, which clearly shows the increased nervousness in the market.
Market closed on red mark
Now, amid pressure throughout the day, the stock market also closed in the red at the end of the day. The 30-share BSE Sensex closed at 82,225.92, down by -1068.74 points or -1.28%. Whereas NSE Nifty of 50 shares closed at 25,424.65 with a decline of -288.35 points or -1.12%.
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This decline does not entirely indicate broader weakness. Sector-based changes are clearly visible in the market. While there was sharp selling in IT and media stocks, buying was also seen in metal, PSU banks and some defensive sectors. The trend of financial stocks was mixed. The overall environment was such that investors were seen moving away from risky and expensive growth stocks and moving towards value and cyclical stocks.
What was the reason for today’s decline?
Many reasons are working together behind this sharp decline. New wave of selling in the IT sector, latest tough statement from America regarding tariffs, weakness of tech stocks on Wall Street and its impact on Asian markets, increased movement due to weekly expiry of Nifty, along with weak rupee against the dollar and increasing tension between America and Iran, all these together shook the market sentiment. At present, the attitude of caution among investors is clearly visible.
Top gainers-losers of stock market
Top Gainers – NTPC, Hindustan Unilever,TATASTEEL, TITAN, POWERGRID
Top Losers – TCS, ETERNAL, TECHM, HCLTECH
How was the Asian market?
Asian markets were mixed after overnight losses on Wall Street. There remains uncertainty regarding America’s tariff policy and increasing geopolitical tensions. The MSCI Asia-Pacific (except Japan) index was down 0.2%. Japan’s Nikkei 225 rose 0.77%, while the Topix was flat. South Korea’s Kospi fell 1.1% and the Kosdaq rose 0.16%. Hong Kong’s Hang Seng futures indicated a weak start.
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