News

Why is stock market down today: Domestic equity benchmarks opened lower on Friday, tracking weak global sentiment and continued selling by foreign investors.

At 9:52 AM, the BSE Sensex was down 474.55 points or 0.57 per cent at 82,836.46, while the Nifty 50 declined 142.75 points or 0.56 per cent to 25,366.95. The Sensex opened at 83,150.15 and touched an intraday low of 82,670.95.

In the broader market, the selling pressure was visible across indices. The Nifty 100 slipped 0.52 per cent, Nifty Midcap 100 lost 0.37 per cent, and Nifty Smallcap 100 declined 0.71 per cent.

Most sectoral indices traded in the red. Nifty Metal fell 0.73 per cent, Nifty IT lost 0.67 per cent, Nifty FMCG declined 0.51 per cent, and Nifty Auto dropped 0.3 per cent. Nifty PSU Bank was down 0.39 per cent. The only sector showing gains was Nifty Pharma, which edged up 0.15 per cent.

Weak global trends kept domestic investors cautious. US markets extended losses as concerns grew over high AI-driven valuations, despite Tesla shareholders approving a USD 1 trillion compensation package for CEO Elon Musk. The ongoing US government shutdown added pressure, disrupting nearly 1,800 flights across major airports.

Asian markets mirrored Wall Street’s weakness. Japan’s Nikkei 225 fell 2.23 per cent, South Korea’s KOSPI slipped 2.43 per cent, Hong Kong’s Hang Seng dropped 1 per cent, and Taiwan’s Weighted Index declined 0.62 per cent. Only Singapore’s Straits Times traded marginally higher, up 0.13 per cent.

- Heavy FII selling amid weak global sentiment - Strength in the US dollar index above 100 - Weakness in the Indian rupee - Technical breakdowns across major indices and key stocks - Weakness in US and European markets; DAX at a one-month low - Correction in cryptocurrencies; Bitcoin down 8 per cent in one week - Rising natural gas prices and falling base metal prices

Major indices have breached key support levels. The Nifty slipped below 25,700 for a second straight day. The Midcap index broke its five-day support at 59,800, while the Smallcap index fell below 18,300. Banking heavyweights also remained under pressure — HDFC Bank fell near its 980 support level, while ICICI Bank broke below 1,340 earlier this week.

Abhay Shukla is a Senior Sub-Editor at Zee Business, where he covers the stock markets, corporate news, personal finance, technology, and auto sectors.

Prior to joinin