Mumbai

On Thursday, the stock market ended on a negative note, with major indices experiencing a significant drop. The BSE Sensex fell by 494.75 points, or 0.61%, closing at 81,006.61, while the NSE Nifty decreased by 221.45 points, or 0.89%, to settle at 24,749.85. This downturn was characterized by widespread selling, with only nine of the 50 Nifty companies reporting gains and 41 facing losses.

Among individual stocks, Infosys, Tech Mahindra, Power Grid, Larsen & Toubro (L&T), and State Bank of India (SBI) managed to post gains, showing some resilience amid the broader market decline. In contrast, Bajaj Auto, Shriram Finance, Mahindra & Mahindra (M&M), Nestle India, and Hero MotoCorp were among the largest losers, contributing significantly to the overall drop.

VLA Ambala, Co-Founder of Stock Market Today, highlighted the ongoing market correction, noting that the Nifty has decreased by 6% over the past three weeks. She explained that this decline stems from concerns over India’s GDP growth, fiscal deficit, high inflation, rising unemployment, and geopolitical tensions. Ambala believes this correction could provide buying opportunities for stocks that have previously performed well, while advising investors to remain cautious in the short term and monitor foreign portfolio investors’ stock holdings. Overall, the market’s decline reflects broader worries about both domestic and global economic conditions.