Market Performance: Early Gains Fade in Stock Market Today
The stock market kicked off with solid momentum, as both Sensex and Nifty carried forward the strength from the previous session. But as the morning progressed, that early energy began to fade, and profit booking slowly started pulling the indices back.
In the early trade window, the optimism was clearly visible.
- The Sensex jumped 464.63 points (0.54%) to hit 85,282.76.
- The Nifty climbed 139.85 points (0.53%) to touch 26,038.40.
However, the energy didn’t last long. By 11:15 a.m., the indices gave up the bulk of those gains:
- Sensex cooled down to 85,118.13
- Nifty slipped to 25,995.05
What began as a bright opening for the stock market today slowly turned into a mid-session pullback.
Main News: Three Factors Behind the Market Slide
The retreat wasn’t driven by a single trigger. It unfolded like one of those sessions where multiple pressures gradually weigh on sentiment.
1) Profit Booking at Higher Levels
After Thursday’s strong rally, some investors chose to lock in gains. This isn’t unusual when indices hover near fresh highs.
On Thursday:
- Sensex rose 426.86 points (0.51%) to 84,818.13
- Nifty added 140.55 points (0.55%) to 25,898.55
With that backdrop, early Friday gains attracted quick profit booking. It was visible across sectors like FMCG, IT, and PSU banks, where stocks slipped up to 0.53%.
2) Persistent FII Selling
Foreign investors continued trimming positions in the Indian market. Their selling streak stayed intact for the 11th consecutive session.
On Thursday alone, FIIs sold equities worth ₹2,020.94 crore.
This steady outflow kept the market cautious despite attempts to bounce higher.
3) Weak Rupee Hits Sentiment
The rupee’s slide added another layer of pressure.
The currency dropped to a fresh record low of 90.56 against the US dollar, breaching the previous all-time low of 90.46.
Later, it was quoted near 90.46, still down 0.1% for the day.
A softer rupee, strong dollar, and FII outflows all blended into a negative mix for the Sensex, Nifty, and broader market mood.
Company Details: Key Movers in Today’s Market
Within the Nifty50, the trend wasn’t uniform. A few stocks held their ground with gains, while several slipped as the indices cooled off.
Major laggards:
- Hindustan Unilever
- Asian Paints
- ITC
These names fell up to 2%, adding pressure on the benchmarks.
Top gainers:
- Tata Steel
- Hindalco Industries
Both stocks rose nearly 3%, holding steady even as the broader market lost steam.
Summary: Market Pauses After Strong Rally
The session started strong, but the tone shifted as the morning progressed. A mix of profit booking, foreign fund outflows, and a weaker rupee dragged the Sensex and Nifty off their highs. What looked like an easy continuation of Thursday’s rally turned into a more cautious trading day.
The stock market today mirrored a familiar pattern—sharp early gains, followed by a steady round of cooling off as global and domestic cues weighed on sentiment.
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