Stock market weakened further; Sensex slipped 318 points, Nifty came below 25000

Sensex and Nifty, the two main benchmark indices, ended the day lower for the second day in consecutive days. The 30-share BSE Sensex dropped 318.76 (0.38%) on Wednesday, ending at 81,501.36. The larger 50-share index NSE Nifty, on the other hand, closed at 24,971.30 after falling 86.05 (0.34%) points to below 25000.

Due to selling in auto and IT firms amid outflows of foreign capital and a negative trend in global markets, benchmark indices of the domestic stock market fell further on Wednesday. The BSE Sensex dropped for the second day in a row, ending the day at 81,501.36, down 318.76 points, or 0.39%. It has dropped 461.86 points, or 0.56%, during the trading to 81,358.26 points. At 24,971.30, the NSE Nifty ended 0.34%, or 86.05 points, down.

The top 10 laggards among the 30 Sensex businesses were Titan, ITC, JSW Steel, Tata Motors, Adani Ports, Infosys, and Mahindra & Mahindra. The gainers were the State Bank of India, Asian Paints, Reliance Industries, Bharti Airtel, and HDFC Bank.

"The market showed a negative bias due to fears of a decline in corporate earnings in the second quarter of FY2025," said Vinod Nair, Head of Research at Geojit Financial Services. Foreign institutional investors (FIIs) sold stocks worth Rs 1,748.71 crore on Tuesday, according to exchange data. Shanghai closed in the positive territory in the Asian markets, but Seoul, Tokyo, and Hong Kong saw declines. The trading range for the European markets was negative. Tuesday's closing bell for US markets was negative.

Benchmark Brent crude for global oil increased by 0.08% to $74.32 per barrel. The rupee closed 4 paise higher versus the dollar on Wednesday, at 84.00 (provisional). The BSE Sensex ended Tuesday's trading session at 81,820.12, down 152.93 points, or 0.19%. At 25,057.35, the Nifty ended the day 70.60 points, or 0.28%, lower.