At 1 PM, benchmark indices were deep in the red, with the Sensex tumbling 942.80 points or 1.16% to 80,653.83, while the Nifty mirrored the same loss. Sectoral pain was visible across the board, with Nifty Auto, Pharma, FMCG, and IT dragging the markets lower, emerging as the worst performers in today’s trade. Meanwhile, market volatility remained muted, with India VIX inching up marginally by just 0.68%.
At 11:38 am, the Indian stock market continued to remain under pressure. The Sensex plunged over 836 points or 1.02% decline, trading at 80,760.35. The Nifty followed suit, dropping 259 points to trade at 24,554.35, down 1.04%.
At 10:47 AM, the Sensex is trading down by 671.92 points or 0.82% at 80,924.71, while the Nifty declined 205.75 points or 0.83% to trade at 24,607.70.
Within minutes of the opening bell, the Indian stock market saw a sharp slide, with the Sensex plunging over 850 points or 1%. The Nifty also slipped, down 261 points or 1.05%
The Indian stock markets opened today on a negative note with the benchmark indices Sensex and Nifty dipping in early trading. The Sensex kicked off the day at 81,236.18, down by 360 points or 0.44%, while the Nifty opened at 24,714.85, slipping 98 points or 0.4%.
The Nifty Bank opened the session at 54,806.10, down 0.52%.
Market Recap
On Wednesday (May 21), the NSE Nifty 50 closed higher by 129.55 points or 0.52% at 24,813.45. The BSE Sensex also posted strong gains, rising 410.19 points or 0.51% to finish at 81,596.63.
The engineering sector emerged as the top performer, with all 105 stocks in the segment closing in positive territory. Electric equipment stocks were key contributors, boosting the sector’s market capitalisation by 1.92%. The shipping sector followed closely with a 1.9% increase in market cap.
Aviation stocks also stole the spotlight with the most gains, surging by 3%. The footwear sector also gained momentum, adding 2%. Capital goods and hospitality sectors showed steady progress, rising by 1.5% and 1%, respectively.
Let’s take a look at the key factors to watch in today’s trading session-
Top gainers at this hour
In the Sensex 30 pack, during early trading, the top 5 gainers among the stocks include Adani Ports, Tata Steel, Bharti Airtel and NTPC.
Key laggards at this hour
Among the Sensex 30 stocks in early trade, these five names are lagging behind the most which include IndusInd Bank, Tech Mahindra, PowerGrid, HCL Tech and Infosys.
Nifty Technical Outlook
The market showed resilience but lacked strong momentum to push higher. “The bounce back yesterday played out as expected but lacked strong follow-through momentum. The formation of a green hammer indicates that the market trend remains balanced, with Nifty struggling to surpass the previous day’s high. Around 80% of Nifty 500 stocks stayed above their 10-day SMA, keeping the upside potential alive. However, with only 14% of stocks dipping below the prior day’s low, Nifty is likely to consolidate between 24,677 and 24,950 initially, within a broader range of 24,060 to 25,235. Breakout momentum appears limited for now,” said Anand James, Chief Market Strategist at Geojit Investments.
Asian markets in mixed mood
Asian markets opened to a mixed tone on Thursday morning, with major indices showing varied performances. Japan’s Nikkei 225 slipped by 308 points, or 0.83%, to trade at 36,990, while South Korea’s Kospi saw a deeper cut, falling 1.17%. On the other hand, the Asia Dow bucked the trend, rising 0.67% to 3,603.39. China’s Shanghai Composite traded marginally lower, down 0.19% at 3,381.
Earnings to watch today
Today’s market spotlight falls on a range of sectors with companies like Emcure Pharmaceuticals, Sun Pharma, Deepak Fertilisers, and Grasim Industries leading the pack. Consumer brands such as ITC, Metro Brands, and Honasa Consumer are also in focus, alongside infrastructure and logistics names like Container Corporation of India, Gujarat State Petronet, HFCL, and The Ramco Cements. Specialty chemical firm Clean Science And Technology and travel tech player TBO Tek round out the list of key stocks to watch.