The Sensex was down by 808 points, or 1%, to close at 81,688. Meanwhile, the Nifty slipped by 200 points, or 0.8%, to settle at 25,049. This marked the largest weekly drop for both indices since June 2022, with Nifty falling 4.3% and Sensex declining 4.5% for the week.
The broader market wasn’t spared either, with the BSE mid-cap and small-cap indices falling by nearly 1% each. Increased volatility was evident, as the India VIX, a key measure of market fear, surged by more than 7% to hit 14.
Impact on the stock market
The IT sector bucked the broader market trend, with the Nifty IT index rising by 0.5%. Companies like Infosys and Tech Mahindra registered gains, offering some respite to investors.
On the Nifty 50, M&M, Bajaj Finance, Asian Paints, Nestle, and BPCL took the hardest hits, falling between 2-4%. On the flip side, Infosys, ONGC, HDFC Life, Tata Motors, and Wipro provided some relief, posting gains of 0.7-1.5%.
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| Sector/Index | Performance |
| IT & BPM sector | 0.36% |
| Healthcare sector | -0.61% |
| Oil & Gas sector | -1.06% |
| Real estate sector | -1.64% |
| PSU Bank in India | 0.54% |
Top gainers today
| Company | Price | Change % |
| Infosys Share price | 1,918.15 | +1.31 |
| ONGC Share price | 295.25 | +1.10 |
| HDFC Life Share price | 708.80 | +0.93 |
| Tech Mahindra Share price | 1,616.45 | +0.77 |
| Wipro Share price | 533.55 | +0.64 |
Top losers today
| Company | Price | Change % |
| M&M Share price | 3,017.45 | -3.59 |
| Bajaj Finance Share price | 7,211.35 | -2.99 |
| Nestle Share price | 2,598.15 | -2.87 |
| Hero Motocorp Share price | 5,520.85 | -2.51 |
| BPCL Share price | 340.25 | -2.47 |
Market aftermath: Impact on stocks
Divyadhan Recycling Industries: A 31% Premium Listing
Divyadhan Recycling Industries made a strong debut on the NSE SME platform, listing at a 31% premium over its issue price. Opening at ₹84 per share, it quickly hit the upper circuit at ₹88.20, reflecting investor confidence. The IPO was oversubscribed 41 times, with strong demand from both retail and non-institutional investors.
The company manufactures Recycled Polyester Staple Fibre (R-PSF) and has a solid growth outlook. With a market valuation of ₹126.19 crore, Divyadhan’s future prospects look promising in the sustainable recycling sector.
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Sahasra Electronics Solutions: 90% Premium on IPO Price
Sahasra Electronics Solutions wowed the market by listing at a 90% premium over its IPO price of ₹283, with shares opening at ₹537.7. The stock hit the 5% upper circuit at ₹564.55, offering significant gains to investors. The IPO was massively oversubscribed 122.16 times, showing strong interest across investor categories.
The company, which provides Electronic System Design and Manufacturing (ESDM) services, plans to use the IPO proceeds to expand its operations. Sahasra Electronics’ strong debut reflects its robust business model and growing demand in the electronics manufacturing sector.
Nexxus Petro Industries: A 20% Premium Debut
Nexxus Petro Industries made its mark with a 20% premium listing on the BSE SME platform, opening at ₹126 per share against its IPO price of ₹105. The stock rallied further to hit the 5% upper circuit at ₹132.3, delivering solid returns for investors.
The IPO was oversubscribed 8.49 times, with strong participation from both retail and non-institutional investors. Nexxus Petro Industries specialises in bitumen products and plans to use the IPO proceeds to meet its working capital needs. The company’s strategic positioning in the petrochemical sector makes it a strong contender for future growth.
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Crude Oil
Today’s market performance was a clear reflection of how global events, particularly the Middle East conflict, are affecting investor sentiment. The rising crude oil prices, combined with the exodus of FIIs, have put significant pressure on Indian stocks. Sectors like banking, FMCG, and auto faced the brunt of the sell-off, while IT stocks offered a glimmer of hope.
While the short-term outlook seems uncertain, long-term investors should take note of the broader market trends and perhaps look for opportunities amidst the volatility. As always, it’s important to stay informed, diversified, and focused on long-term growth. The Indian stock market, despite current headwinds, continues to offer a robust growth story for patient investors.
Conclusion
Today was a tough day for the Indian stock market, with the Sensex and Nifty suffering significant losses. Several factors, including geopolitical tensions, rising crude oil prices, and a lack of positive domestic triggers, contributed to the sell-off. While some stocks, such as Marico and Britannia, showed resilience, the broader market was left reeling, with major sectors like Realty and Auto taking the brunt of the losses.
As investors look ahead, the market will likely remain on edge as global tensions unfold. For now, cautious optimism and defensive stock picks may be the way to weather this storm.
For more stock market insights, check out the StockGro blog.
