Sensex falls 319 points, Nifty slips below 25,200: What dragged Dalal Street today?
The Sensex and Nifty snapped their three-day gaining streak on Friday, falling 319 points and 155 points, respectively, as crude oil prices rose and selling pressure hit several sectors. Hitachi Energy, Amber Enterprises and Eicher Motors were among the notable gainers, while Tata Motors PV, Grasim, Muthoot Finance and Manappuram Finance declined.
The equity benchmark indices snapped their three-day gaining streak on Friday , with the Sensex falling 319 points and the Nifty slipping 155 points to close below the 25,200 mark.Selling pressure across heavyweight stocks, rising crude oil prices and weakness in several sectoral counters dragged the market lower, with market breadth favouring declines.The BSE Sensex ended 319 points, or 0.39%, lower at 81,592, while the NSE Nifty50 declined 155 points, or 0.61%, to settle at 25,144. The Nifty Bank index dropped 484 points to 61,034, while the Nifty Midcap index slipped 150 points to 61,890.ALSO READ | NMDC shares fall after Q2 operating miss; JPMorgan, Citi say 'sell'Market breadth remained weak, with 39 Nifty50 constituents closing in the red and 18 stocks declining more than 1%. The advance-decline ratio stood at 2:3, indicating a greater number of declining stocks.What dragged the stock market lower today?1.
Crude oil rise weighs on paint, airline and oil marketing stocksPaint companies, airline stocks and oil marketing companies came under selling pressure as crude oil prices rose. IndiGo declined 1%, while Hindustan Petroleum Corporation Ltd fell 2%.2. Gold price weakness hits Muthoot Finance and Manappuram FinanceShares of gold loan companies Muthoot Finance and Manappuram Finance declined 3% each as gold prices slipped during the session.ALSO READ | TD Power shares are now up 100% for 2026 after another guidance raise on Q2 results3.
Heavyweight stocks add to market pressureTata Motors Passenger Vehicles ended 3% lower ahead of its second-quarter results. Grasim Industries declined more than 2% after reporting its second-quarter earnings, missing margin estimates. Vodafone Idea shares also slipped 3%, with marketing expenditure expected to remain high.Eicher Motors ended the session as the top Nifty50 gainer ahead of its results.
Bharti Airtel closed 1% higher after Sunil Mittal said the company would be a 'rare Indian multinational corporation'.Among other gainers, Hitachi Energy surged 11% on strong order inflows and a healthy outlook. Amber Enterprises gained 9% after reporting higher-than-expected revenue growth.ALSO READ | Page Industries share price target cut by Citi, HSBC on Q2 FEMA concernsCapital goods stocks also moved higher as buying interest returned to artificial intelligence -related stocks. GE Vernova T&D India advanced 5%.
PB Fintech shares surged 5% following reports that the Insurance Regulatory and Development Authority of India may issue another draft paper on distribution.From the Sensex basket, Bharti Airtel Ltd, Asian Paints Ltd, Bajaj Finance Ltd, Nestle India Ltd, Oil and Natural Gas Corporation Ltd and ITC Ltd were the major gainers.Shriram Finance Ltd, Hindalco Industries Ltd, Mahindra & Mahindra Ltd, UltraTech Cement Ltd, Jio Financial Services Ltd and NTPC Ltd were the biggest laggards.Ashish Kyal, CMT, Author, Waves Strategy Advisors, said, on banks, said, "The major banks that have been driving the rally has been SBI and HDFC Bank including ICICI Bank as well.But there is some kind of profit booking that we are seeing from the higher levels. This profit booking does not mean the market is reversing. SBI reversed from the highs of ₹1,090, now trading at ₹1,080 levels.
If we can get a dip around ₹1,060-1,065, that will be an opportunity to buy this bank again.As far as HDFC Bank is concerned, this stock has given a strong move on the upside after a long time. Many of the traders and investors have been stuck in that stock around the zones of ₹750-780 and ₹800 levels as well and so we are seeing some profit booking in these stocks as well but I think that is a short-term move. Any move towards ₹790-785 will be an opportunity to buy HDFC Bank, aiming for around ₹840-850 levels."
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