On Thursday, the Nifty-50 fell for the fourth straight day, with major stocks like Reliance and HDFC Bank taking a big hit. This widespread sell-off caused sectoral indices to drop, and investors lost about Rs 8 lakh crore in wealth.
On Thursday, the Nifty 50 fell for the fourth straight session, dropping below its 20-DMA (20-day moving average) of 26,000. The index also failed to hold the 25,900 level.
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Reliance Plummets
Reliance Industries remained the biggest drag on the Nifty, falling for the fourth day in a row. It has dropped 9% from its record high, losing Rs 1.7 lakh crore in market cap.
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HDFC Bank Also Suffers Losses
HDFC Bank also fell for the fourth consecutive day. India's largest private bank has lost about Rs 85,000 crore in market capitalization during this period.
The sell-off was widespread in the broader market, with 95 of the 100 Nifty Midcap stocks and 85 of the 100 Smallcap stocks ending the session with losses.
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Metal Index Leads Sectoral Losses
The recently outperforming Nifty Metal index fell by about 3.5%, with all 15 components ending lower. JSPL, NALCO, Hindustan Copper, and NMDC were the top losers.
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IT Stocks Fall Ahead of Quarterly Report
IT stocks underperformed. All index components fell, with Wipro, Coforge, and Oracle Financial Services Software dropping 3–3.5%.
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Some Stocks See Gains
Despite the weak market, Balaji Amines and Panacea Biotec surged up to 13%, reacting positively to stock-specific developments.
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Capital Goods Stocks Fall in the Last Half Hour
Capital goods stocks sold off heavily in the last half hour. BHEL fell over 10% after a Reuters report on Chinese firms bidding for Indian contracts. ABB, Siemens, and L&T also fell.
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Transformers and Rectifiers Stock Falls After Quarterly Report
Despite reporting a 35% rise in quarterly profit and margin expansion, Transformers and Rectifiers (India) shares fell by about 9%.
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Rs 8 Lakh Crore Loss
Thursday's sell-off wiped out nearly Rs 8 lakh crore of investor wealth. Friday will be crucial as markets watch the US Supreme Court hearing on Trump tariffs and US jobs data.
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