The Indian stock market ended in the red for the third consecutive session on July 28, weighed down by heavy FPI selling, weak corporate earnings, and continued uncertainty over the India-US trade deal.
The Sensex closed at 80,891.02, down 572 points or 0.70 percent, while the Nifty 50 settled at 24,680.90, losing 156 points or 0.63 percent.
The BSE Midcap index also declined by 0.73 percent, and the Smallcap index plunged 1.31 percent.
Investors lost nearly ₹4 lakh crore in a single day, as the total market capitalisation of BSE-listed firms dropped to about ₹448 lakh crore from ₹451.7 lakh crore in the previous session.
Over the past three sessions, the Sensex has shed 1,836 points or 2.2 percent, while the Nifty 50 has declined 2.1 percent. The overall investor wealth erosion over these three days exceeds ₹12 lakh crore.
Ongoing headwinds—such as delays in the India-US trade agreement, disappointing Q1 earnings, and persistent foreign capital outflows—continue to dampen sentiment. The domestic market currently lacks strong positive triggers.
According to Vinod Nair of Geojit Financial Services, domestic market sentiment remains cautious due to underwhelming Q1 results, uncertainty around the trade deal, and steady FII withdrawals. He added that upcoming monetary policy decisions by the US Federal Reserve and the Bank of Japan, along with the trajectory of domestic earnings, will be crucial in shaping near-term market direction.
Only 15 Nifty 50 stocks ended in the green, with Shriram Finance (up 2.62 percent), Cipla (up 2.45 percent), and Hero MotoCorp (up 1.45 percent) leading the gains.
Kotak Mahindra Bank (down 7.34 percent), Bajaj Finance (down 3.58 percent), and IndusInd Bank (down 2.93 percent) were the top laggards.
Most sectoral indices ended lower. Nifty Realty crashed 4.07 percent, followed by Nifty Media (down 2.70 percent). However, Nifty Pharma (up 0.43 percent), FMCG (up 0.28 percent), and Healthcare (up 0.09 percent) bucked the trend. The Nifty Bank index declined 0.79 percent, while Financial Services dropped 0.72 percent.
Vodafone Idea (38.13 crore shares), Ola Electric Mobility (14.72 crore shares), and Jayaswal Neco Industries (11.85 crore shares) were the most traded in terms of volume.
Despite the broader market weakness, 16 stocks, including The Phosphate Company, Jonjua Overseas, Panth Infinity, Ace Alpha Tech, AJC Jewel Manufacturers, and Benchmark Computer Solutions, gained over 10 percent.
Kellton Tech Solutions, Ekennis Software Service, and 20 Microns were among seven stocks that fell over 10 percent.
Out of 4,299 stocks traded, 1,256 advanced, 2,881 declined, and 162 remained unchanged.
Shyam Metalics and Energy, Laurus Labs, Aadhar Housing Finance, Fortis Healthcare, Nuvoco Vistas Corporation, Global Health, Torrent Pharmaceuticals, and UPL were among the 125 stocks that touched 52-week highs on Monday.
Shrikant Chouhan of Kotak Securities, observed that the formation of a bearish candle on daily charts and a lower top on intraday charts signals continued weakness.
He noted that if the Nifty remains below 24,800, bearish sentiment may persist, potentially pushing the index down to 24,550–24,500. However, a breakout above 24,800 could trigger a pullback towards 24,900 or even 25,000.
(By arrangement with livemint.com)