Mumbai, India : The Indian stock market witnessed a dip in momentum on Saturday, as both benchmark indices opened lower and continued their downward trajectory through the trading session. The Sensex fell by 150 points, currently hovering around 82,400, while the Nifty dropped 50 points, slipping below the 24,900 mark.
This downturn was primarily driven by declines in auto and metal stocks, which have seen sustained selling pressure due to global commodity price concerns and weak demand forecasts. Major auto giants such as Tata Motors and Maruti Suzuki witnessed a dip of 1–2%, while JSW Steel and Hindalco from the metal sector also lost ground.
Analysts say the market is reacting cautiously to global cues, including the possibility of further interest rate hikes by the US Federal Reserve and concerns about slower economic recovery in China, which directly impacts metal exports from India.
On the sectoral front, while IT and FMCG stocks remained stable, investors largely stayed away from heavyweights in cyclical industries. The broader market indices also showed marginal losses, reflecting a cautious investor mood ahead of key corporate earnings reports expected next week.
Despite the dip, market experts suggest the correction is healthy after a strong rally over the past few weeks. However, volatility is expected to remain high amid global uncertainties and domestic macroeconomic data.
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