The Indian stock market witnessed another day of losses, with the BSE Sensex and NSE Nifty 50 Index declining for the second consecutive session. The Sensex fell 0.7% to 59,288.53, while the Nifty 50 Index slipped 0.8% to 17,715.90.
The market’s downward trajectory was largely driven by losses in index-heavyweight stocks, particularly in the information technology (IT) and automotive sectors. Infosys, Mahindra and Mahindra, and Tata Consultancy Services (TCS) were among the top drags on the Sensex.
Infosys shares declined 2.3% to ₹1,431.15, while Mahindra and Mahindra slipped 2.1% to ₹1,244.10. Other major losers included TCS, down 1.8% to ₹3,941.10, and Hindustan Unilever, which fell 1.5% to ₹2,614.20.
The Nifty IT Index was the worst-performing sectoral gauge, declining 1.7% due to losses in IT heavyweights. The Nifty Auto Index also fell 1.2%, weighed down by losses in Mahindra and Mahindra and Maruti Suzuki.
However, some stocks bucked the trend, with gainers including Reliance Industries, up 1.2% to ₹2,349.90, and ICICI Bank, which rose 1.1% to ₹955.20.
Analysts attributed the market’s decline to profit-taking and caution ahead of the earnings season. “The market is consolidating after the recent rally, and investors are booking profits,” said an analyst at a domestic brokerage firm.
Foreign institutional investors (FIIs) also continued to be net sellers, offloading shares worth ₹1,200 crore in the cash market. Domestic institutional investors (DIIs), however, were net buyers, purchasing shares worth ₹800 crore.
The Indian rupee also weakened against the US dollar, slipping 0.2% to ₹82.52.
Overall, the market’s decline was driven by losses in index-heavyweight stocks and caution ahead of the earnings season. Investors will closely watch the upcoming earnings reports and global market developments for cues.
