The Indian stock market opened on a weak note on Friday, with benchmark indices trading in the red. The BSE Sensex slipped 303.23 points or 0.37 per cent to 81,880.94, while the NSE Nifty declined 122.20 points or 0.49 per cent to 24,939.90. The negative start reflects cautious investor sentiment amid global market uncertainty and profit booking at higher levels. Around 807 stocks advanced, 1,344 declined, and 140 remained unchanged.
On the Nifty, top gainers included SBI Life Insurance, ICICI Bank, Hindalco, NTPC, and SBI. Meanwhile, notable losers were Bajaj Finance, Shriram Finance, Bajaj Finserv, Jio Financial, and Hero MotoCorp.
At the opening bell on July 25, sectoral indices mostly traded in the red, signaling a tepid start to the session. The Nifty Auto index led the decline with a 0.78 per cent drop, followed by losses in Nifty Media, Metal, and Consumer Durables. Banking stocks saw mixed action—Nifty Bank slipped 0.17 per cent, while PSU Bank defied the trend with a 0.41 per cent gain. Nifty IT and Energy also saw modest declines of 0.19 per cent and 0.43 per cent, respectively. The broader market remained under pressure, with the Nifty Midcap 100 down 0.41 per cent and the Smallcap 100 falling 0.62 per cent. Meanwhile, India VIX surged over 5 per cent, reflecting heightened market volatility.
Uncertainty surrounding a trade deal with the US and stretched valuations have weighed on market sentiment, according to experts. “Though the Q1 earnings are broadly in line, it does not justify the premium valuation; India is trading at a 3-year high of 21x P/E,” said Vinod Nair, Head of Strategy at Geojit Investments Limited.
Previous Trading Session
In the previous session on Thursday, the Indian stock market closed lower, erasing gains from the previous session due to weak global cues and widespread profit booking. The BSE Sensex fell by 540.42 points, or 0.65 per cent, to end at 82,186.22, while the NSE Nifty dropped 168.80 points, or 0.67 per cent, to settle at 25,051.10. Broad-based selling across major sectors weighed on investor sentiment and pulled the benchmark indices into the red.