BIZ DESK
Domestic equity markets extended losses for the third consecutive session today, casting a shadow over investor sentiment just days before the listing of Travel Food Services Ltd (TFS). Both Sensex and Nifty plunged nearly 1%, dragged down by heavy selling in IT stocks and lingering concerns over global trade disruptions linked to U.S. President Donald Trump’s policies.
The benchmark BSE Sensex closed 690 points lower at 82,500, slipping 0.83%, while the Nifty50 dropped 205 points to end at 25,150, down 0.81%. Broader indices mirrored the downtrend, with the Midcap index falling 0.65% and the Smallcap index losing 0.70%.
Weakness in heavyweight IT stocks led the fall, with TCS plunging 3.46%, Mahindra & Mahindra slipping 2.75%, and Bharti Airtel losing 2.20%. Out of 30 Sensex components, 22 ended in the red. On the other hand, Hindustan Unilever rose 4.61%, Axis Bank added 0.79%, and Sun Pharma gained 0.56%.
Index Performance
- Sensex: Fell 690 points to 82,500, down 0.83%
- Nifty50: Lost 205 points, closing at 25,150, down 0.81%
Broader indices echoed the downturn:
- Mid-Cap Index: Down 0.65%
- Small-Cap Index: Dropped 0.70%
Among Sensex components, TCS emerged as the top loser, slipping 3.46%, followed by Mahindra & Mahindra at -2.75% and Bharti Airtel at -2.20%. In contrast, Hindustan Lever surged 4.61%, Axis Bank rose 0.79%, and Sun Pharma gained 0.56%.
Sectoral Trends
- IT: Declined 1.77%
- Auto: Fell 1.72%
- FMCG and Health Care bucked the trend, rising 0.45% and 0.17% respectively.
Market breadth remained negative at BSE with 2,453 declining stocks, 1,551 advancing, and 161 unchanged. On the NSE, 55 stocks hit 52-week highs, while 23 stocks slumped to 52-week lows, underscoring volatility.
Investor Outlook This market mood could influence the listing performance of Travel Food Services, which is preparing for its IPO debut on July 14. While institutional backing for the IPO is strong, the prevailing bearish sentiment may dampen initial enthusiasm.