Sensex Down 590 Points, Nifty Below 25,900 as Global Cues Trigger Market Sell-Off

Indian equity markets extended losses on Thursday as investor sentiment weakened after hawkish remarks by U.S. Federal Reserve Chair Jerome Powell. The Sensex fell 590 points, while the Nifty closed below the 25,900 mark, down 0.68%, reflecting broad-based selling across sectors.

Powell’s statement on the possibility of keeping interest rates higher for an extended period dampened global market mood, leading to profit booking in major indices.

Nifty Below 25,900 as Investors Turn Cautious

The Nifty below 25,900 level highlighted renewed selling pressure across frontline stocks. Bharti Airtel, PowerGrid, Tech Mahindra, and Infosys were among the top laggards in Thursday’s session. On the other hand, Coal India and Larsen & Toubro (L&T) managed to stay resilient, emerging as the day’s top gainers.

Market sentiment was also influenced by the high-profile meeting between U.S. President Donald Trump and Chinese President Xi Jinping, which reportedly extended longer than expected, hinting at potential progress in trade discussions.

Sectoral Weakness Dominates Market Breadth

The market breadth remained largely negative, with all indices except Nifty Realty ending in the red. Both the Nifty Midcap 100 and Smallcap 100 mirrored the benchmark’s performance, closing with notable losses.
Out of Nifty 500 stocks, 328 ended the day lower, indicating that declines outnumbered advances. The overall tone stayed cautious as traders awaited further clarity on global policy cues.

Technical Outlook: Nifty Faces Key Support and Resistance Zones

According to technical analysts, Nifty’s immediate support zone lies between 25,800 and 25,750. On the upside, resistance is expected around 26,030 to 26,050. A sustained move above 26,050 could spark a short-term rally toward 26,200 and 26,350 levels.

Traders are advised to remain selective and focus on defensive sectors amid global uncertainty and volatility.

Swiggy and Hyundai Report Q2 Earnings

In corporate developments, Swiggy reported a widened net loss of ₹1,092 crore in Q2 compared to ₹626 crore in the same period last year. However, revenue surged 54% year-on-year to ₹5,561 crore from ₹3,601 crore, reflecting strong growth in order volumes and customer acquisition.

Hyundai Motor India posted a net profit of ₹1,572 crore for the quarter, up 14% year-on-year, compared to ₹1,375 crore last year. Revenue grew marginally to ₹17,460 crore from ₹17,260 crore, marking a 1.2% increase.

Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.

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