Stock Market Today: Sensex Slips 207 Points, Nifty at 24,580 – Pharma & Financials Drag Markets

The Indian stock market ended lower today as both Sensex and Nifty faced selling pressure. Weakness in financial and pharma stocks dragged the indices, while global cues also added to investor concerns. Despite a few sectors showing resilience, overall sentiment remained cautious.

Sensex & Nifty Performance

The BSE Sensex slipped by 207 points to close at 81,250. Similarly, the NSE Nifty dropped 45 points, ending the session at 24,580. The selling was widespread, though mid-cap and IT stocks showed some resilience.

Sectoral Performance

• Top Drags: Financial services and pharma stocks were the biggest losers. Heavyweights like HDFC Bank, ICICI Bank, and Dr. Reddy’s Laboratories came under selling pressure.
• Gainers: On the other hand, IT and FMCG stocks provided some support to the market. Infosys and Hindustan Unilever were among the top gainers.

Global Market Impact

Global cues played a significant role in today’s decline. Rising crude oil prices and renewed worries around the Russia–Ukraine conflict affected investor sentiment. Moreover, uncertainty around the US Federal Reserve’s interest rate stance also weighed on markets.

Key Stocks in Focus

• HDFC Bank & ICICI Bank: Both witnessed heavy selling, dragging down the financial index.
• Dr. Reddy’s & Sun Pharma: Pharma stocks remained weak due to valuation concerns.
• Infosys & TCS: IT stocks gained as global demand for technology services continues to rise.

Investor Sentiment

Investors are cautious as valuations remain high. The market is closely watching global developments, especially oil prices and US economic data. Analysts believe near-term volatility will continue, but long-term fundamentals remain intact.

Expert View

According to market experts, “This correction should be seen as healthy for the markets. Sectors like IT, FMCG, and select auto stocks may provide opportunities. However, financials and pharma may remain under pressure in the short term.”

Outlook

In the coming sessions, traders should keep an eye on:

• Global crude oil trends
• Foreign Institutional Investor (FII) inflows
• Quarterly results from major companies

Overall, the market is likely to remain range-bound with stock-specific action.

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