Stock Markets Halt 6-Day Rally; Nifty Ends Below 26,000
Indian stock markets snapped their six-day winning streak on Thursday, with the Sensex falling 278 points and Nifty closing below the 26,000 mark. Profit-taking in IT, metal, and capital goods stocks, combined with weak global cues, drove the decline.
Key Market Movements
- Sensex: Fell 277.93 points (0.33%) to 84,673.02
- Nifty: Dropped 103.40 points (0.40%) to 25,910.05
- Market Breadth: 2,740 stocks declined vs 1,463 advances
Sectoral Performance
Realty stocks were hit hardest, plunging 1.98%, followed by IT (1.15%), metal (1.07%), and industrial stocks (0.93%). The consumer durables sector was the sole gainer.
Top Losers and Gainers
Major laggards: Tech Mahindra, Infosys, Bajaj Finance, Bajaj Finserv, Eternal, Adani Ports, Hindustan Unilever, and Bharat Electronics.
Notable gainers: Bharti Airtel, Axis Bank, Asian Paints, and Titan.
Broader Market and Global Context
The BSE small-cap index fell 0.85% while mid-caps declined 0.70%. The sell-off mirrored weak trends across Asian markets, with South Korea’s Kospi, Japan’s Nikkei, China’s Shanghai Composite, and Hong Kong’s Hang Seng all closing sharply lower.
