- Sensex drops 760 points, Nifty below 22,550 as IT and metal stocks face heavy selling.
- Adani Group pledges ₹1.1 trillion investment in Madhya Pradesh, creating 1.2 lakh jobs.
- GSK Pharma soars 32% in 7 days, hitting a 3-month high on strong Q3 earnings.
The Indian stock market faced a sharp decline on Monday, with the Sensex dropping over 800 points and Nifty slipping below 22,550 due to weak global cues and sectoral sell-offs. IT and metal stocks led the decline, while FMCG and auto sectors provided some cushion. Foreign institutional investors (FIIs) continued to offload stocks, adding to market volatility.
Despite the downturn, certain stocks showed resilience. Mahindra & Mahindra gained 1.38%, and FMCG stocks stayed positive. Meanwhile, SBI Life Insurance announced a dividend payout, offering a silver lining for investors.
Market Turmoil: Sensex, Nifty Fall as Investors Brace for Volatility
The IT and metal sectors bore the brunt of Monday’s market rout, with Nifty IT plunging 2.77% and heavyweights like Wipro, Infosys, and HCLTech suffering steep losses. The selling pressure was largely driven by global uncertainties, concerns over US economic data, and expectations of prolonged high interest rates.
While the broader market struggled, Adani Group made a bold move, pledging a massive ₹1.1 trillion investment in Madhya Pradesh across infrastructure, cement, and energy sectors. This announcement aligns with India’s ongoing push for industrial growth, job creation, and regional development.
Foreign investors continued their selling spree, contributing to the sharp downturn. With FII outflows intensifying, the Indian rupee also weakened against the US dollar, trading between ₹86.50 – ₹87/USD. However, the impact of crude oil price fluctuations kept currency volatility in check.
The pharmaceutical sector provided a rare bright spot amid the sell-off, with GSK Pharma’s stock surging 32% over the past week. The company reported strong earnings, with net profit rising sharply to ₹230 crore, signaling robust financial health and investor confidence.
The Indian stock market remains under pressure due to a combination of global economic concerns, sectoral sell-offs, and FII outflows. While select sectors like FMCG and pharma offer resilience, investors should brace for continued volatility in the coming weeks.
“The stock market is filled with individuals who know the price of everything, but the value of nothing.” – Philip Fisher
