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Indian stock markets opened with slight gains on Thursday but soon turned negative as IT stocks fell sharply. Sensex opened at 84,525.89, Nifty at 25,906.10, while metal and pharma sectors showed resilience amid overall market volatility.
Stock Market Volatility: Sensex and Nifty Slip in the Red After Initial Gains
New Delhi: The Indian stock market opened with a slight gain on Thursday, but within minutes, both the Sensex and Nifty slipped into the red. Investors adopted a cautious stance in the early trading session, and selling pressure was seen in several key sectors.
The BSE Sensex opened with a gain of 60 points at 84,525.89, while the Nifty 50 opened at 25,906.10. Despite the initial gains, the market soon weakened, and declines in IT sector stocks dragged the indices down.
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The Nifty IT index recorded the largest decline of 0.72 percent, while the FMCG sector also declined by about 0.30 percent. The Nifty Auto index fell 0.10 percent, but the Bank Nifty was trading in the green.
Metal stocks showed strength amid the market decline. The Nifty Metal Index jumped more than 1 percent, providing some relief to investors. Similarly, the Nifty Pharma Index also gained 0.25 percent.
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The rise in these sectors is being attributed to rising metal prices in international markets and better quarterly results from pharmaceutical companies.
Asian Paints was the top gainer in the Sensex pack, rising nearly 4.5 percent as of 9:30 am. This rise came after the company reported a 47 percent profit increase in its quarterly results.
Tata Steel shares also gained nearly 2.5 percent, as the company reported a robust profit growth of 319 percent in the second quarter of FY 2025-26.
In addition, shares of Bajaj Finserv, Bharti Airtel, and ICICI Bank also gained between 0.7 and 1 percent.
The IT sector witnessed pressure today. Infosys shares fell 1.25 percent, while TCS shares fell 0.72 percent and Tech Mahindra shares fell 0.62 percent.
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In addition, Kotak Mahindra Bank also declined 0.60 percent. Shares of Tata Motors Commercial Vehicles (TMCV), which listed on the market on Wednesday, fell nearly 3 percent, failing to meet investor expectations.
Overall, Thursday's session was volatile for the stock market. While the metal and pharmaceutical sectors showed some strength, the IT and auto sectors underperformed. Investors are now eyeing global market trends and domestic economic data, which will determine the market's direction in the coming days.
