Last Updated:
Indian benchmark indices slipped sharply in early trade on Tuesday, weighed down by weak global cues; What investors need to know
Stock Market Crash Today
Stock Market Today: In a sharp reversal, benchmark indices Sensex and Nifty rebounded into positive territory after a subdued opening, buoyed by renewed buying in banking, pharma, and metal stocks. The afternoon rally extended to broader markets as well, with midcap and smallcap stocks outperforming their large-cap counterparts.
By 11:30 AM, the Sensex had gained 148.20 points, or 0.18%, to reach 82,324.65, while the Nifty rose 40.75 points, or 0.16%, to 25,041.90. Market breadth remained positive, with 1,810 stocks advancing, 1,463 declining, and 146 remaining unchanged.
Vinod Nair, Head of Research at Geojit Financial Services, said:
“The rebound in domestic equities was supported by the U.S. considering an extension to the tariff deadline on EU goods and a weakening dollar index. These signals point to constructive progress in trade negotiations, which could help stabilize market sentiment. Additionally, the early arrival of the southwest monsoon and falling domestic bond yields have encouraged investors to stay engaged in riskier assets.”
While most sectoral indices were in the red earlier in the session, they gradually recovered by the afternoon. Nifty Bank, Consumer Durables, Energy, FMCG, PSU Bank, Private Bank, Metal, Pharma, Realty, and Media all posted gains between 0.04% and 0.59%. The broader market also regained strength, with the Nifty Midcap 100 rising 0.22% and the Smallcap 100 advancing 0.41%.
However, Nifty IT, Auto, Infra, and Oil & Gas remained under pressure. Volatility subsided slightly, with the India VIX easing to 18.69, down from 19.02 earlier in the day, marking a 3.72% decline.
Shares of InterGlobe Aviation (IndiGo) slipped 3% following reports from CNBC-TV18 that co-founder Rakesh Gangwal offloaded a 5.8% stake via a block deal worth Rs 11,928 crore.
Meanwhile, FirstCry’s parent company Brainbees Solutions fell 4% after posting a net loss of Rs 111 crore in Q4FY25, widening from Rs 43 crore in the same quarter last year.
Shares of electric bus maker Olectra Greentech fell 6 percent after Maharashtra Transport Minister Pratap Sarnaik urged the cancellation of the company’s large-scale e-bus order due to missed delivery deadlines. In a post on social media platform X, Sarnaik stated that the company had not delivered a single unit out of the 1,000 buses scheduled for handover by May 22.
Commenting on market trends, Akshay Chinchalkar, Head of Research at Axis Securities, noted: “While the Nifty closed above the psychological 25,000 mark yesterday, the key resistance remains at the previous high of 25,116. If that level holds, there’s a small chance of a dip that could test support at 24,462—considered a critical level for both bulls and bears. As long as this support holds, the upside target zone remains 25,400–25,600.” He added, “That said, a dip is not guaranteed. If it doesn’t occur, the 25,500 level could become the near-term focus. In another bullish signal, the NSE Smallcap Index closed above its 200-day moving average for the first time in seven months. On the macro front, optimism around a potential US-EU trade agreement is helping maintain positive sentiment.”
Among top performers on the Nifty were IndusInd Bank, Trent, Asian Paints, Adani Ports, and Nestle. On the flip side, UltraTech Cement, Grasim, NTPC, JSW Steel, and Shriram Finance were the major laggards.
- First Published: