- Indian markets struggle as Nifty drops below 22,400; IT and midcaps drag.
- Global markets remain volatile amid trade war concerns and inflation data.
- Adani Green gains 3%, while Bharat Forge and HDFC Life face setbacks.
Indian stock markets ended lower, with the Nifty closing at 22,397.20 and the Sensex down 201 points at 73,828.91. IT stocks, including Wipro, Infosys, and Tech Mahindra, led the decline, while midcap stocks also saw significant losses.
Global cues remained weak as Asian markets saw mixed trends. The Hang Seng and Shanghai Composite fell, while Japan’s Nikkei gained. U.S. futures dropped despite a Wall Street rebound, with AI stocks recovering.
Indian Markets in Red as Global Cues Weigh Heavy
The Indian equity market struggled throughout the week, with Nifty failing to hold early gains. The index ended nearly 1% lower as IT stocks dragged down sentiment. HDFC Life dipped almost 2% after disclosing a data theft incident, while Bharat Forge slid 4% on concerns over U.S. environmental regulations.
Despite the overall decline, selective buying was seen in some sectors. Adani Green gained 3% after a bullish outlook from Macquarie, predicting a 40% upside. Realty firm Kolte Patil also advanced over 2% following Blackstone’s stake acquisition. Oil and gas stocks, including ONGC and Oil India, edged higher after the Lok Sabha approved a new oil field exploration law.
Global markets remained in focus as investors reacted to trade war developments. The Hang Seng dropped 0.7%, while China’s Shanghai Composite declined 0.4%. U.S. markets saw choppy trading, with the S&P 500 recovering 0.5% after an initial slide. AI stocks rebounded following recent losses, while the Dow Jones ended slightly lower.
Midcap and small-cap indices took a hit, falling nearly 3%, reflecting the broader market weakness. Among Nifty’s top losers were IndusInd Bank, Wipro, and Infosys, which erased early gains. The banking sector saw mixed performance, with ICICI Bank and Kotak Mahindra Bank offering some support.
Market sentiment remains fragile as IT and midcap stocks struggle under global and domestic pressures. While select stocks like Adani Green and Kolte Patil found buying interest, broader market weakness suggests investors are treading cautiously amid trade war concerns and economic uncertainties.
“The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
