Sensex, Nifty Slip Below Key Mark; Broader Market Underperforms

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Posted by AI on 2025-07-17 17:46:45 | Last Updated by AI on 2026-09-26 23:15:05

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Indian stock markets continued to slip on Thursday, with the BSE Sensex closing 375 points down, and the NSE Nifty ending the day at 25,111. Market heavyweights in the IT and banking sectors dragged on the indices, despite a positive start to the day.

The sell-off came amid concerns over rising inflation and a possibility of a faster-than-expected tightening of monetary policy by global central banks. The war in Ukraine and its impact on rising commodity prices was also on the mind of investors.

The broader market underperformed the benchmark indices, with the BSE Midcap and Smallcap indices dropping 1.6% and 1.3%, respectively. Among sectors, IT and banking stocks were the major laggards, falling over 2% each.

"The short-term trend of Nifty continues to be bearish despite a minor upside bounce in the last session. Further decline is expected in the upcoming sessions, till the Nifty holds below the 17800 level," said a note from brokerage firm ICICI Direct.

The slump in Indian stocks was in line with declines in global markets, with US stocks ending lower on Wednesday after the Federal Reserve indicated that interest rates could rise by 50 basis points next month.

With rising fears of a global recession and an increasing number of rate hikes from global central banks, market participants will be keeping an eye on further economic data and central bank meetings this week.

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