Markets extended their morning losses through the midday session on Friday, with the Sensex falling over 600 points and the Nifty sliding below 25,000 levels as selling pressure mounted across sectors.
The Sensex was trading at 81,657.13, down 602.11 points or 0.73 per cent from its previous close of 82,259.24. The benchmark index opened at 82,193.62 and continued its downward trajectory through the session. The Nifty 50 index declined 173.80 points or 0.69 per cent to 24,937.65, falling from its previous close of 25,111.45.
Banking stocks remained under severe pressure, with Axis Bank leading the decline among Nifty 50 constituents, dropping 4.25 per cent to ₹1,110.50. Financial services stocks contributed significantly to the market’s weakness, with Shriram Finance falling 2.30 per cent to ₹650.15, SBI Life declining 1.64 per cent to ₹1,773.30, and HDFC Life dropping 1.61 per cent to ₹739.70.
The Nifty Bank index was down 559.70 points or 0.98 per cent to 56,267.10, while the Nifty Financial Services index declined 272.80 points or 1.02 per cent to 26,536.65.
Defense stock BEL also featured among the top losers, falling 2.07 per cent to ₹395.85 as sectoral rotation continued to impact specific themes.
On the positive side, technology stocks provided some respite with Wipro emerging as the top gainer, rising 2.17 per cent to ₹266.25. Tata Steel advanced 1.07 per cent to ₹161.61, while HCL Technologies gained 0.80 per cent to ₹1,544.10. ONGC climbed 0.47 per cent to ₹245.02, and IndusInd Bank managed a modest gain of 0.32 per cent to ₹867.90.
Market breadth remained weak across the broader market, with 2,383 stocks declining against 1,483 advancing stocks on the BSE. The exchange recorded 123 stocks hitting 52-week highs compared to 33 touching 52-week lows. A total of 224 stocks were locked in upper circuit while 171 hit lower circuit limits.
The Nifty Next 50 index declined 415.50 points or 0.60 per cent to 68,307.95, while the Nifty Midcap 100 index fell 370.75 points or 0.62 per cent to 59,146.45.
The continued selling pressure reflects sustained foreign institutional investor outflows and cautious sentiment ahead of key banking sector earnings. Market participants are closely monitoring technical levels as the Nifty struggles to maintain support above crucial moving averages in the current volatile environment.
Published on July 18, 2025