Stock Market Updates: Sensex Drops 670 Points, Nifty Slides Below 25,850; Bajaj Duo, Nestle Among Top Losers
Indian stock markets are likely to remain volatile on Friday, the last trading day of the week.
Sensex Today: Domestic equity benchmarks continued their downward trend on Friday, pressured by steep losses in major heavyweights, especially the Bajaj duo — Bajaj Finance and Bajaj Finserv.
The BSE Sensex fell over 650 points, or 0.8%, to around 81,527, while the NSE Nifty50 broke below the psychological 25,000 level, losing more than 200 points to hover near 24,850.
Bajaj Finance and Bajaj Finserv led the losers on the Sensex, plunging up to 5%. Other notable laggards included PowerGrid, Tata Motors, and Infosys.
On the Nifty index, additional pressure came from Shriram Finance, Bajaj Auto, Hero MotoCorp, IndusInd Bank, and Wipro.
Selling was widespread, as the Nifty MidCap 100 dropped 1.4%, while the Nifty SmallCap 100 slipped 1.9%.
Among sector-specific indices, Nifty Auto declined 1.31%, Nifty Financial Services slid 1.27%, and Nifty Metal dropped 1.5%. Defying the overall trend, Nifty Pharma was the only gainer, edging up 0.16%.
Overall sentiment stayed fragile due to global headwinds, institutional offloading, and earnings-related volatility.
Global Cues
Asian shares largely traded in the red on Thursday as investors assessed recent global economic data and trade updates. Japan’s Nikkei 225 declined 0.55%, and the Topix fell 0.73%. Australia’s ASX 200 lost 0.51%, while South Korea’s Kospi stayed flat.
In the US, initial jobless claims fell by 4,000 to 217,000, contrary to expectations of a rise to 227,000. This marked the sixth consecutive weekly drop, indicating continued strength in the labor market. However, continuing claims inched up to 1.955 million—the second-highest level since November 2021—suggesting that although layoffs remain low, hiring pace may be slowing.
Meanwhile, the S&P Global US Composite PMI increased to 54.6 in July from 52.9 in June, reflecting the strongest private sector expansion in 2025 so far. The improvement was driven by a strong recovery in the services sector—the fastest since December—while manufacturing also grew, though more modestly.
US equity benchmarks continued to climb, with the S&P 500 and Nasdaq Composite reaching fresh record closes. The S&P 500 edged up 0.07% to close at 6,363.35, and the Nasdaq gained 0.18% to settle at 21,057.96. However, the Dow Jones Industrial Average underperformed, falling 316.38 points or 0.7% to end at 44,693.91, pulled down by disappointing earnings in some major stocks.
