INVC NEWS
Mumbai — : The Indian stock market witnessed a sharp downturn on Tuesday following two consecutive sessions of gains. Benchmark indices Sensex and Nifty opened lower amid negative global cues and heavy selling in IT stocks, reflecting investor caution ahead of key economic data releases.
Earlier on Monday, the BSE Sensex had closed 455.37 points higher at 82,176.45, while the Nifty ended 148 points up at 25,001.15—both hitting new milestones. However, this bullish momentum faded quickly as the markets opened red on Tuesday.
📉 Opening Bell Shock: Sensex, Nifty Plunge in Early Trade
Sensex dropped 460.38 points to 81,716.07 in early trade
Nifty slipped 162.05 points to 24,839.10
Rupee weakened 7 paise to 85.17 against the US Dollar
By mid-session, the Sensex was down by 627.86 points at 81,548.59, and the Nifty fell further to 24,807.95, as IT majors dragged the indices lower.
🛑 IT Stocks Drag Market Sentiment
Profit-booking in frontline IT stocks—Infosys, TCS, HCL Tech, and Tech Mahindra—triggered the selloff. Along with tech, other key laggards included NTPC, Bajaj Finserv, Axis Bank, and Tata Motors.
On the flip side, IndusInd Bank remained the only Sensex stock in the green, showing resilience amid broader market weakness.
🧾 FII Action and Expert Opinion
Despite the fall, Foreign Institutional Investors (FIIs) were net buyers on Monday, purchasing equities worth ₹135.98 crore. Experts suggest that investor sentiment has turned cautious ahead of two key economic indicators:
April Industrial and Manufacturing Output Data (due Wednesday)
Q1 FY25 GDP figures (due later this week)
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said:
“Markets are likely to consolidate around these levels until major economic data sets provide new direction.”
🌏 Global Market Pressure Adds to Weakness
Asian markets were broadly in the red:
Japan’s Nikkei 225: Down
South Korea’s Kospi: Down
Shanghai Composite: Down
Hong Kong’s Hang Seng: Down
Meanwhile, US markets remained closed on Monday for the Memorial Day holiday, offering no external support to Asian indices.
