Mumbai stock market began the day in the red as investors reacted to weak global signals and heavy selling by foreign institutional investors (FIIs).
By 9:25 am, the benchmark Sensex slipped 532 points to 82,778, down 0.64 %.
The Nifty index fell 162 points to 25,347, also down 0.64 %.
Broad‑cap sectors outperformed the major indices on the loss side: the Nifty Midcap 100 dropped 0.89 % and the Nifty Smallcap 100 fell 1.26 %.
Top movers
Gains – SBI Life Insurance, Trent, Apollo Hospitals, and ICICI Bank led the Nifty Pack.
Declines – TCS, Titan, Tata Consumer, and Shriram Finance were the biggest losers.
Sector performance
Consumer durables took the biggest hit, down 1.38 %.
All sector indices traded lower, with IT, auto and real estate each sliding over 1 %.
Analysts point to aggressive shorting by FIIs that continues to outweigh domestic investor buying (DII). Dr. V.K. Vijayakumar, chief investment strategist at Geojit, noted that FIIs’ sustained selling strategy is driven by a move to cheaper markets. “Short covering could reverse the trend, but nothing immediate suggests that,” he added. He said the FII sell‑off has pulled prices of large‑cap banks and pharma firms below their true value, despite bright growth prospects.
Positive background: India Inc’s second‑quarter FY26 earnings grew 14 % year‑on‑year, especially strong in mid‑cap companies, offering a counterweight to the current downturn.
Global backdrop
U.S. markets closed higher‑low last night: Nasdaq fell 1.9 %, the S&P 500 dropped 1.12 %, and the Dow sank 0.84 %.
Asian markets mirrored the decline, watching U.S. sell‑offs and pricey AI valuations.
Japan’s Nikkei slid 2.16 %, Hong Kong’s Hang Seng fell 0.98 %, South Korea’s Kospi dropped 2.57 %, while China’s Shanghai and Shenzhen indices each slipped 0.17 %.
Investor activity
On Thursday, FIIs sold ₹3,263 crore of equities, while domestic institutional investors bought ₹5,284 crore, showing a clear divide between foreign and domestic flows.
The day’s slide emphasizes how global market sentiment and foreign selling pressure are shaping India’s top indices, while domestic earnings growth offers hope for a rebound.
Source: ianslive
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